Amazingpowerpatternguy

BABA- What's So Special About The $100-$101 Zone?

NYSE:BABA   Alibaba Group Holdings Ltd
119 0 0
12-2 Let's keep it simple. What's so special
about the 100-101 zone? Not only is it the
first breakout into a new high out of what
some would call a base. It's also a 50%
Fibonacci retracement on the way down.
It also just happens to be at? An old support.
We all know the old rule of thumb right? Old
resistance once broken tends to become?
New support. What is even more
special though? Is the B wave bear channel .
Check out BIDU             and BITA             as they too both did
one before breaking to the downside.
Knowing what to watch for sometimes
can make all the difference. In this case
the for shorting the bear channel told you
all you need to know.

Do yourself a favor and be on the lookout
for them. If you are a long only type?
They are the what to watch out for.

For informational and educational purposes only
these are not recommendations, trade at your own risk.
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