SUMMARY

Here is the long term chart of Baozun (BZUN) where it started off the impulse with a bullish Cup & Handle and since then has skyrocketed to stratospheric levels. Waves 1,2,3,4 are complete and wave 5 is about to as well. Is this a safe time to be buying?

The price has been also shaping out an upward pointing wedge. This is not a bullish pattern. The blue subwaves of wave 5 also show that only incremental highs are probably needed for the top. The requisite correction following five waves are drawn in the below chart. The C wave usually retraces to the prior wave 4 and since the wave 5 is not extended, the decline probably won't be at 0.78 Fib levels.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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