BABA Trade Setup

Here are couple possible swing long trigger levels for BABA (highlighted by the black dash lines). The first trigger level at 108.47 is an inside candles coil breakout, and the 110.65 is the trendline breakout. The low of the engulfing candle at 103.88 (red dash line) could be use as the reference for establishing stop loss level. If the price move below the stop loss reference level before moving above the trigger levels, then this potential swing long setup will be abandoned.

(click on the chart to enlarge)


A possible target is the closing high at 119.15 (blue line).