Thoughts on JD.com?
Hello guys! I have a setup here $JD-SW (09618.HK)$
On the H4, with prices moving within a descending channel and RSI moving along a descending trendline, we have a bearish bias that prices will drop to sell entry at 229.0 where the swing low support is. Once there is downside confirmation that prices has broken entry structure, we would expect bearish momentum to carry price to take profit at 189.4 where the swing low support, 78.6% fibonacci projection and -61.8% fibonacci expansion are. Alternatively, prices could rise to stop loss at 269.6 where the swing high resistance is.
Entry: 229.0![]()
Take Profit: 189.4![]()
Stop loss: 269.6![]()
$JD 5xLongSG230329 (DTZW.SG)$
$JD 5xShortSG230620 (DGNW.SG)$
On the H4, with prices moving within a descending channel and RSI moving along a descending trendline, we have a bearish bias that prices will drop to sell entry at 229.0 where the swing low support is. Once there is downside confirmation that prices has broken entry structure, we would expect bearish momentum to carry price to take profit at 189.4 where the swing low support, 78.6% fibonacci projection and -61.8% fibonacci expansion are. Alternatively, prices could rise to stop loss at 269.6 where the swing high resistance is.
Entry: 229.0
Take Profit: 189.4
Stop loss: 269.6
$JD 5xLongSG230329 (DTZW.SG)$
$JD 5xShortSG230620 (DGNW.SG)$
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