Learn how to buy JD.com Stock using a secret price action technique that allowed George Soros make tons of money out of the markets!
In his book The Alchemy of Finance, George Soros gave us an example of when he struggled to understand the macro forces driving the German mark.
His solution was to turn to the technicals to find established patterns that would help him understand where price could possibly go next.
We can do the same with JD.com (JD).
Too many traders fall into the trap of thinking that charts can predict a stock’s future.
But that’s wrong.
Charts only show you what’s already happened, not what’s going to happen.
What they do is give you a real-time look at the buying and selling pressure in the market.
With that info, you can get an idea of what kind of players are actively participating in that market.
This will help you get a feel for what the institutions are up to.
You can see what price levels they’re buying and selling at.
So let’s apply this concept to one of our favorite stocks, JD.com
If you look at its weekly chart… since JD.com went public a little over 3 years ago, we’ve been seeing the same pattern repeat itself.
We get a 6-wave coiling wedge followed by a 3-wave thrust higher.
And you’ll notice that each wedge becomes shorter and tighter than the one before it.
Right now, it looks like JD.com is completing its 3rd 6-wave coiling wedge.
And if the standard pattern holds, we should see a 3-wave price thrust higher soon.
Now this pattern we’re seeing isn’t a guarantee of where JD.com’s price will go.
But it does give us an idea of where it could go.
And it also tells us that this may be a good area to either add to or establish a new position.
Watch the video above to learn more!
And remember to stay Fallible investors!