Thoughts on JD.com?
Hey everyone, I am back with another setup $JD-SW (09618.HK)$
On the H4, with prices moving along a descending trendline and RSI moving along a descending trendline, we have a bearish bias that price will drop to the sell entry at 233.6 where the swing low support, 50% fibonacci retracement and 161.8% fibonacci extension are. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to take profit at 189.4 in line with swing low support and 78.6 projection. Alternatively price could rise to stop loss at 269.6 where the swing high resistance and 27.2% fibonacci retracement are.
Sell Entry: 233.6![]()
Take Profit: 189.4![]()
Stop loss: 269.6![]()
$JD 5xLongSG230329 (DTZW.SG)$
$JD 5xShortSG230620 (DGNW.SG)$
On the H4, with prices moving along a descending trendline and RSI moving along a descending trendline, we have a bearish bias that price will drop to the sell entry at 233.6 where the swing low support, 50% fibonacci retracement and 161.8% fibonacci extension are. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to take profit at 189.4 in line with swing low support and 78.6 projection. Alternatively price could rise to stop loss at 269.6 where the swing high resistance and 27.2% fibonacci retracement are.
Sell Entry: 233.6
Take Profit: 189.4
Stop loss: 269.6
$JD 5xLongSG230329 (DTZW.SG)$
$JD 5xShortSG230620 (DGNW.SG)$
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