hi traders,
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
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the trading idea no longer valid 
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💥 Free signals and ideas ➡ t.me/vfinvestment
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.