BABA - ready for a rise
Updated
As RSI indicator is close to 30, we can expect that the price will decrease a little bit more to reach the support level , then we expect a trend reversal , so we suggest to take a long position.
Entry: when the price retest the support level;
Target: at the resistance level;
Stop loss: as in the chart (6,22%).
Entry: when the price retest the support level;
Target: at the resistance level;
Stop loss: as in the chart (6,22%).
Trade closed: stop reached
stop loss hit
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