BABA is forming a bearish crab with an internal AB=CD pattern, and both are completing in the same price zone. The volume weighted MACD is also showing some bearish divergence.
@FerencGattyan, Yes, if price action went above $210 then the pattern would be invalid and all positions would be closed. You want to enter a short position when price enters the reversal zone, the first profit target would be $190 (38% retracement of AD).