- The price is in a positive overriding trend. - Alibaba shows a tendency to break through the golden pocket once in a correction, but then to continue to run positively in the trend. - This breakthrough has already been made in the current correction. - The second reaction at the golden pocket looks encouraging - In the long term, the current trend channel could consolidate further
The plan
- I would like to take a long position at the cross-support of the golden pocket and the lower trend lines. - If the price does not touch the golden pocket again in combination with a trend line, I will not find an entry point and remain a spectator. - As a long-term price target I use the trend-based Fib extension - One for the watchlist, no trade is acute yet
Buy zone: 227 - 222 points, only in combination with a trend line Target zone: 360 points
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