I'm considering placing a buy order a few points above current weekly candle. Given the outcomes of covid19 turning positive (mainly for China) I retain the possibility of Alibaba (aliexpress included) to be one of the first industrial giants to regain pace on the asian side. If price will break out from current trendline, I think an advance to 250 could be in the "masterplan" :).
Here's my strategy:
Scenario 1: price advances toward 250 -> will move my SL to Breakeven
Scenario 2: price advances toward 300 after some consolidation, will trail my stop every time price goes up by 10%.
Worst case scenario: this will turn out to be a false breakout and will get stopped out right beneath current weekly candle.
Though it is a bullish idea, I marked is as neutral, every order for me is a stand aside trading style.
Here's my strategy:
Scenario 1: price advances toward 250 -> will move my SL to Breakeven
Scenario 2: price advances toward 300 after some consolidation, will trail my stop every time price goes up by 10%.
Worst case scenario: this will turn out to be a false breakout and will get stopped out right beneath current weekly candle.
Though it is a bullish idea, I marked is as neutral, every order for me is a stand aside trading style.