Green Monthly candle on Baba
Updated
Monthly candle suggests long
Need to break 78 (volume spike) and first weekly close above it
Then needs to break above 86 (volume spike)
Most likely scenario is sell before earnings on Jan 31st as China is under deflation (weak population growth and interest rate going down not up as Chinese CPI is negative)
Need to break 78 (volume spike) and first weekly close above it
Then needs to break above 86 (volume spike)
Most likely scenario is sell before earnings on Jan 31st as China is under deflation (weak population growth and interest rate going down not up as Chinese CPI is negative)
Note
Baba most likely bearish scenario is rejection at last earnings at volume spikeNote
No volume spike to support long positions so watching closely for any bearish action like lower low.Note
Exercise caution, weekly lower low set. Let's see how this weekly candle closes
Out for the moment
Order cancelled
Trade active
Tested 20 day SMATrade closed: stop reached
Pump on high volume and dump on low volume. Not good for longs. Might close on open tomorrow
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