BABA - Wave 5 down, Descending Broadening Wedge
(i) Likely Wave 4 retracement
(ii) 38.2% retracement
(iii) Ascending wedge
(iv) Descending Broadening Wedge upper edge resistance
(v) Bearish MACD, MACDH divergence
Short for wave 5 then go long for the breakout of the DBW!
(ii) 38.2% retracement
(iii) Ascending wedge
(iv) Descending Broadening Wedge upper edge resistance
(v) Bearish MACD, MACDH divergence
Short for wave 5 then go long for the breakout of the DBW!
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