Direction remains as buy
$BABA-SW (09988.HK)$ as confirmed today/end of this week,fortunately weekly downward confirmation failed , so we will prolong the upward bias till end of next week till this month end.
so remain buy position entry 80.4 sl 73 and tp open.
will keep updated if there is any change on a weekly basis as I trade based on monthly entry is weekly timeframe and stop loss precision based on daily timeframe.
as the weekly range 80 to 100 is intact and it will bias towards 80 range or 90 range is depend on daily timeframe which I confirm it is bearish momentum until it turned to bullish then we will see towards 100 as it is daily momentum pulling off market towards 80 range.
and I post here is to keep track for my forward testing for my own reference and sharing my opinion based on my tech analysis for your reference only. and I will not change my entry, stop loss and weekly range as my previous post for my forward testing accuracy purposes.
Enjoy weekend.
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100% tech analysis for trading/investment. choose good fundamental share from Adam and test my strategy 10times to max$.
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TMW1986 : Wait for all the BB to buyback. Today even with good economic data still looks weak. Still a lot of short sellers looming around.
102319027 TMW1986: why not short?
1st of the 10 tradesOP TMW1986: as I am totally based on technical, and the reason why it flows towards to 80 side as my previous post mentioned is because daily timeframe still failed to turning bullish so in near term it will incline to 80 range or lower a bit but the max it will not go to my stop loss based on my technical strategy, fortunately the weekly it failed to be bearish so it is still on the up side for now but need to be monitored on a weekly basis as monthly also need to be confirmed to avoid turning bearish which left 2 weeks more.
so I no need to exit now and currently still at around 6.25 percent profit if the hk price around hkd 85 now.
I don care for fundamental as we really can't rely on those subjective manipulated information as it is too much information out there and they are all either lag or manipulated to trick those weak hand to sell cheap to them and once they accumulate enough shares then they will push the price up and earn big by selling back to weak hand at a premium price.
I only use fundamental for selecting the good fundamental stock to trade based on Adam Khoo stock selection of the 1 % stock as I still mastering the stock valuation, fundamental from him now.
so he helped to choose best stock to trade that all and I don care about rubbish news at all.
he is master for fundamental and I am technical so I will be highly likely to win if I use his 1 percent stock combined with my technical to trade and i know i not winning 100 percent as I am not God but in long term I sure will win big.