alibaba stocks

The current Alibaba structure shows a 5-wave impulse.

The final leg of a cycle consists of intermediate sub-waves ①-②-③-④-⑤.

Intermediate wave (5) will complete the primary impulse wave ③ near 357.99.

At that level, wave ③ will be at 261.8% of primary wave ①.

When wave ③ is completed, the price could decline in corrective wave ④.

Finally, the price is expected to rise in wave ⑤.

alibaba shares

Another scenario shows impulse wave ③ is complete.

Currently, the formation of the initial part of the corrective wave ④ is in formation.

Wave ④ is expected to take the form of an extended horizontal correction, consisting of an intermediate (A)-(B)-(C)-(D)-(E) triangle.

At that level, wave ④ will be at 38.2% of impulse ③.

Got your risk management sorted? Open your account now!

The post Alibaba Impulsive Trend Hints To Fresh Highs appeared first on Orbex Forex Trading Blog.

https://www.wds-media.com/wp-content/uploads/2020/10/BABA1-1024x601.pnghttps://www.wds-media.com/wp-content/uploads/2020/10/BABA1-300x300.pngAdminFOREX
The current Alibaba structure shows a 5-wave impulse. The final leg of a cycle consists of intermediate sub-waves ①-②-③-④-⑤. Intermediate wave (5) will complete the primary impulse wave ③ near 357.99. At that level, wave ③ will be at 261.8% of primary wave ①. When wave ③ is completed, the price could decline...