Thoughts on JD.com?
Hey everyone! I have a nice setup for you guys $JD-SW(09618.HK$
On the H4, with prices moving within a descending channel and below the ichimoku indicator, I have a bearish bias that price will drop to sell entry at 229.0 where the pullback support is. Once there is downside confirmation that price has broken entry structure, we would expect bearish momentum to carry price to take profit at 189.4 where the swing low support, 78.6% fibonacci projection and -61.8% fibonacci expansion are.
Alternatively, price sould rise to stop loss at 269.6 where the swing high resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are.
Entry: 229.0![]()
Take Profit: 189.4![]()
Stop Loss: 269.6![]()
$JD 5xLongSG230329(DTZW.SG$
$JD 5xShortSG230620(DGNW.SG$
On the H4, with prices moving within a descending channel and below the ichimoku indicator, I have a bearish bias that price will drop to sell entry at 229.0 where the pullback support is. Once there is downside confirmation that price has broken entry structure, we would expect bearish momentum to carry price to take profit at 189.4 where the swing low support, 78.6% fibonacci projection and -61.8% fibonacci expansion are.
Alternatively, price sould rise to stop loss at 269.6 where the swing high resistance, 78.6% fibonacci retracement and -61.8% fibonacci expansion are.
Entry: 229.0
Take Profit: 189.4
Stop Loss: 269.6
$JD 5xLongSG230329(DTZW.SG$
$JD 5xShortSG230620(DGNW.SG$
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bwjx : the swings is quite heavy throughout the days. Started strong but towards the end of the day there seem to be capital outflow. so I got a hunch that the downtrend may continue.