Alibaba Impulsive Trend Hints To Fresh Highs

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.

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!