cicizzyu

BABA next leg up pending volume confirmation

Long
NYSE:BABA   Alibaba Group Holdings Ltd.
Trade active: Aug 4th, took signal, positioned 30bps

Aug 6th, trade working, but didn't add due to weakening momentum concerns, 1) vol 2) hammer

Aug 7th, gapped down due to weichat/China news; stopped out 100%

Aug 10th, gapped down spinning top

Aug 11th, closing level forming ascending triangle

Aug 12th, reentry 30bps @ 250, expect to trade in tight range over a week or so; and if macro condition supports, breakout target 301



Current position: LONG

Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
Trade closed: target reached: Closing out at 290. Expect to see small consolidation before hitting 301 target. Profit taking here as VIX trading up.

Comments

Thats a bullish move (y) I think it will move like Amazon.
Reply
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