JD is potentially setting up for what may be a reversal pattern here after a brutal downtrend which wiped out 80% of this company over the last year.
Currently, this stock is showing signs of a technically bounce as we begin to hover higher while changing market structure , bouncing at the key 618 retracement zone as well as the VWAP from the low.
I like this setup for a rise to take out some poor highs (lack of liquidity sweep) in the areas I have marked, with the high being an 3rd degree Elliott wave pushing the expansionary phase into the 1.618 extension.
Very tight stop here, relatively low risk for a high reward trade. I will take that any day of the week.
Currently, this stock is showing signs of a technically bounce as we begin to hover higher while changing market structure , bouncing at the key 618 retracement zone as well as the VWAP from the low.
I like this setup for a rise to take out some poor highs (lack of liquidity sweep) in the areas I have marked, with the high being an 3rd degree Elliott wave pushing the expansionary phase into the 1.618 extension.
Very tight stop here, relatively low risk for a high reward trade. I will take that any day of the week.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.