TRADE IDEA $BABA 💡
Today I entered a long on $Alibaba (BABA.US)$ after the gap up following earnings last friday.
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This is a textbook Episodic Pivot setup as coined by extremely succesful swing trader Kristjan Qullamaggie.
What happened was $Alibaba (BABA.US)$ earnings beat analyst expectations and gapped up +7% on high volume. This setup can create scenarios for stocks to have big upward moves.
My entry was a break out of Fridays high with very tight risk and a stop loss below Fridays low.
The aim is for this earnings to be the begginning of a big move for $BABA following it’s consolodation over this summer.
NOT FINANCIAL ADVICE. Always do your own research before investing.
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Canadian Investor and Personal Finance Content Creator!
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