I admit Chinese government may devalue their currency again. But that is still up in the air, no one know when or how much they would. The fact is that BABA is doing good, at least on their sheets, from cash flow to earnings. That the fundamental side of it. The reason I propose this trade is because it has huge upside and small risk. This set up don't show up everyday on the market. If it breaks 57 level, you set a stop limit sell, and turn back to sell at that level. You will make back the loss in no time. Also, for long term buying, you buy a stock, does not mean you are going to hold it for months or years. The technical will help you to decide when to get out if it breaks a certain level. It also help to know when to take your profit. Also, it is better to divide your entry and exit order to multiple lots. I will update the details when trade is active.