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.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.