I AM NOT ENTERED IN THIS TRADE Waiting on Weekly view Sell Signal – which will trigger with price below $210.73
Chart Details Sell Signal on Daily View on 12/30. Overall chart pattern is bullish breakout of wedge. The next bearish trend will be short-lived. Trend Dots show next Weekly trend is Bearish. Exits- Since BABA is overall bullish, I would exit at EMA’s around $190-$200. $190 would also be good long entry (I will examine further/post if this occurs).
Entry Options Looking at 1/10 Expiry. Call Credit Spread. 215/220 strikes. Market closed risk/reward looks weird to me. $130 Reward for $380 Risk. POP is 72.5. Maybe because of high probability of profit the risk is higher as profit is more guaranteed? Not sure. But I prefer 1:1 or better risk:reward. Must exit before expiry. Hold maybe a week. Exit at 50% profit, gap fills, or your risk tolerance.
About Me Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. I am transitioning to my new website moneypatterns.com and will be updating my username here. Same guy - new name. :) Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards. Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SMH Bearish, SPXS Bullish
I'm longing BABA on a yearly basis and now it'll likely be a long term all-in this year. The primary reason is their incoming split in July, good luck :D
MoneyPatterns
⋅
@piscitear, BABA is probably the best Chinese investment you could make IMO.
Anything that compares to Amazon in China is going to be good. Plus, I like Jack Ma as a person. Very smart.
Nothing wants a pullback yet LOL.
Good luck to you too. Normally stock split drives price down. Reverse split increase price.
I will have to watch as we get close to July. Thank you for this information.