Post successful learnings and recent trades, I believe XPENG has topped this positional cycle and the monthly has printed a the pinbar candlestick. The confirmation is below last month's low point to shorten the market. Else this remains neutral. Entering a short here is riskier as bulls may push a retest. Trump's tariffs have been negative so far, which favors shorting Chinese stocks such as XPENG. But I still think this is neutral at the moment.
As this situation is 50-50 staying on sidelines is important.
Should you intend to go long then SL is $18.9
Should you go to short then SL is the last month high.
Risky in mho.
As this situation is 50-50 staying on sidelines is important.
Should you intend to go long then SL is $18.9
Should you go to short then SL is the last month high.
Risky in mho.
Note
Turns out to be buying pressure, not sure a B/O isn't solid and pullback was the only thing to attract buyers. The weekly is great looking and it has completed 3-waves pattern with a pullback 4th. The 5th impulsive wave can be a breakout and the only way to trade is to risk 10% (SL) and hold the position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.