We can see that BABA made a 5 Waves down on daily. BABA recently made the 1-2 to setup for the reversal. We can see a big green candle near demand with the volume validating the move. BABA retraced perfectly to the 0.618 for wave 2. It also broke neutral and 20day MA is reclaimed and curling up.
However, overall its still making higher lows and we don't know if HSI reversed. With all China uncertainty, becareful and manage risk.
Is this the first wave on daily for the reversal or only intra waves for earnings ? Is it the floor ? We don't know but it looks good keep it on watch...
However, overall its still making higher lows and we don't know if HSI reversed. With all China uncertainty, becareful and manage risk.
Is this the first wave on daily for the reversal or only intra waves for earnings ? Is it the floor ? We don't know but it looks good keep it on watch...
