HBBD trade ideas
Alibaba: more room to fall?Alibaba
Short Term
We look to Sell at 87.83 (stop at 92.37)
We look to set shorts in the early trade. The medium term bias remains bearish. Short term bearish momentum has stalled. However, with the intraday chart now highlighting lower highs we are possibly forming a descending triangle pattern.
Our profit targets will be 78.05 and 73.21
Resistance: 100.00 / 120.00 / 138.00
Support: 90.00 / 78.00 / 75.00
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ABC BullishChina stocks have been unpredictable for a while now.
This does line up with an ABC Bullish pattern.
Stop under C.
Target is D.
This is not to long entry level (EL)
Low today was 88.52, so price came close to C but did not break C.
3 candle tails/shadows and 1 candle touch to this level.
No recommendation.
BABA Potential for Bearish Drop| 18th August 2022On H4, with the price moving within the descending channel and below MA, we have a bearish bias that the price may drop from the sell entry at 88.18, which is in line with the 78.6% fibonacci retracement and previous swing low to the take profit at 79.25, which is in line with the swing low and 61.8% fibonacci projection. Alternatively, the price may rise to the stop loss at 98.05, which is in line with the overlap resistance.
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$BABA longterm entry 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
Entry: $90
Take profit: $180
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Baba Hitting up a LONG swing on baba. Stops below 88.60. This as long as it holds support could turn around here headed back up to the triangle resitamce of 120$. Seems to have multiple weekly candles acting as support. Only a matter of time before the bulls can gain control which can easily flip this into a W pattern within the triangle.
Just my idea and I am putting in some trades here with stops below
BABA Testing MA200 since Feb21The Last time BABA touch MA200 was in 22 Feb 2021. Since then, BABA has been trending downwards below MA200 line, struggling to even surpass the ichimoku cloud and the downwards channel
Some Positive Signs of Reversal
-break above parallel channel
-Candlestick interact with MA 200
-Candlestick went above ichimoku cloud during june-july 2022
-Higher high(HH) formed
-Higher Low(HL2) seems to retrace lesser than HL
-Lagging span went above candlesticks(currently within the clouds)
-High trading volume at 73.39(speculative support)
Currently BABA still in bearish mode
-moving under MA200 and underneath ichimoku cloud
Some Strategies :
Conservative: Wait for candlestick to go above both MA200 & ichimoku and enter during retracement. Stop loss 5-10% below 73. More Margin of Safety & Lesser Future Gain
More Aggressive: Enter now(on the lower part of black parallel channel). Set TP at 136 or Expected uptrend of 1:1 of Line B from HL2. Stop loss 5-10% below 73. Lesser Margin of Safety & More Future Gain
#ALIBABA #BABA
Price Action Intro - channels and ranges examples using BABA DA brief intro to PA - examples using this D chart of BABA.
See chart for notes and resources to learn more. Hope this helps some struggling traders that have 100 indicators and have no idea why trades fail etc. We have all been there. That next magic $300 indicator is really NOT the holy grail to fix all your woes. But RAW charts and PA just MAY BE the right answer. The problem.. it is DIFFICULT... it takes PREP and STUDY and LEARNING and SCREEN TIME. AND.. there are so so so many scammers in the trading world. I have listed 3 REAL DEAL mentors that are NOT scammers in the chart memo.
If this helps ONE trader avoid a number of my early pitfalls, I will be so happy.
Good luck on your trading journey!