BABA 9/23/22 Long Swing Update

BABA has broken out of mini wedge and has begun to make its way up to the resistance zone between $86.55 and $87.84. We are currently 50% in profit on contracts (BABA $105 Call Exp Dec 16, 2022) entered on 9/23/22 and are making our way to first target ($90). I would take partial profits at resistance zone and look to add at the formation of the first higher low before the big break of the larger wedge.

Stay tuned for updates...

Trade closed: stop reached:

BABA is closing in on that $70 stop. Be prepared to close out the remainder of swing.

Reflection: After hitting profits and trimming position, move stops accordingly to minimize losses.