JD trade ideas
JD is poised to break the counter trendline and bounce ! JD is poised to break the counter trendline and bounce ! JD is squeezed in triangular pattern and is likely to break above after hitting the -27% fib retracement target where the spike down is. If we are going to see a breakout of the counter trendline, it indicates more upside could be there !
JD pinbar bounce on the 1 day chartYou can see that the last two days we had the pinbar searching for a bottom, and this morning it is showing that it has bounced and is back on the rise....should be a strong day(although Fridays can be volatile so be sure to have a plan and be watching.) Should show strength into next week as well. I personally won't be holding over the weekend due to the current state of the world, but you make your personal decision. Good luck and have fun traders!
jd has limited short term potential to go up1. Daily chart shows potential to run out of energy and will have a retracement any time soon.
2. The risk to go short is that price consistantly holds at 50ema. It will have a retracement from 87.90 to 83 (50 ema).
3. Once 50ema is broken, it will go to 70 which may hold around 200ema.
4. 15 mins chart looks different. It has potential to go new high which is 92.88 if the down pressure line is broken.
It gives a quick long if it retests down pressure line and entry around 90. Target should be 105 if enter this high.
5. Will trump's ban on couple chinese companies have impact JD next week? We have to watch.
Overall JD only offers very limited potential and higher risk of going downside. 70 will be a long term buy price given
china index goes very bullish recently.
JD 15-12-2020 LongAsset and Time frame -JD,1H
Entry Price -80.3884
Exit(Stop Loss) -84.77
Exit(Take Profit) -78.91
Technical Analysis -On the daily chart price is making a correction, and on the hourly chart price stopped at the support line and on the parallel channel trend line, if you want a better entry, wait for a second confirmation(another bullish candle) on the hourly chart
I would like to hear your opinions and what can I do to improve, many thanks