Thoughts on baba?
Hola guys!
Let me know what you think about this setup on $BABA-SW(09988.HK$
I'm looking to get in at 92.70 where the 38.2% Fibonacci retracement and horizontal pullback resistance is and playing it to 88.05 in line with the 161.8% Fibonacci extension. I'll have my stop loss at the next swing low resistance at 94.70 which aligns with the 61.8% Fibonacci retracement.
Entry:92.70
Take Profit:88.05
Stop Loss: 94.70
$Alibaba 5xShortSG230202(DAGW.SG$
$Alibaba 5xLongSG220608(DGFW.SG$
Let me know what you think about this setup on $BABA-SW(09988.HK$
I'm looking to get in at 92.70 where the 38.2% Fibonacci retracement and horizontal pullback resistance is and playing it to 88.05 in line with the 161.8% Fibonacci extension. I'll have my stop loss at the next swing low resistance at 94.70 which aligns with the 61.8% Fibonacci retracement.
Entry:92.70
Take Profit:88.05
Stop Loss: 94.70
$Alibaba 5xShortSG230202(DAGW.SG$
$Alibaba 5xLongSG220608(DGFW.SG$
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morganfreefarm : Selling at resistance and buying at support is what you should be doing. But I do not like your RR ratio.