LCID Long Trade Setup VWAP and Falling Wedge Breakouts
Updated
LCID on a 30 minute chart showed a falling wedge from mid-December to late January then with
breakout which took it 30% in one and a half days. This was a previous idea. I believe the news
catalyst from Saudi Arabia prompted a burst of trader interest. The following day, the price
began another falling wedge pattern for one week. It then broke out for a 10 % move in a short
time interval.
The chart also demonstrates the bigger moves are centered around VWAP band lines where
trading volume and volatility are the greatest. The relative volume and volatility indicators
help emphasize this point.
At this point, LCID may be turning down into another albeit smaller and lower-duration
falling wedge and is well positioned for a brief short trade. The target would be the
mean anchored VWAP at 3.25. For a better entry selection, a zoom into 3-10 minutes would
be helpful
breakout which took it 30% in one and a half days. This was a previous idea. I believe the news
catalyst from Saudi Arabia prompted a burst of trader interest. The following day, the price
began another falling wedge pattern for one week. It then broke out for a 10 % move in a short
time interval.
The chart also demonstrates the bigger moves are centered around VWAP band lines where
trading volume and volatility are the greatest. The relative volume and volatility indicators
help emphasize this point.
At this point, LCID may be turning down into another albeit smaller and lower-duration
falling wedge and is well positioned for a brief short trade. The target would be the
mean anchored VWAP at 3.25. For a better entry selection, a zoom into 3-10 minutes would
be helpful
Trade active
LCID has completed the falling wedge breakout and the price has fallen. Stop loss raised to breakeven. Trade is now risk and stress-free.Trade active
LCID could be setting up a " long squeeze" ( inverse of short) as those with long positions close them while others are shorting the trend down. Time will tell.Trade active
LCID dropped 3.5% full position no adds unless a "dead-cat bounce" is seen.Price popped with a "big ass green candle" in the after-hours. The trade might be
over depending on what the premarket and open look like. I would have closed
already but for my trade is options that cannot be closed in the pre/post market.
If you are in the trade with shares, take heed.
Trade active
Sideways and rangebound for now. Patience is a virtue.Trade active
Dead cat bounce happened . Added to fortify the position for the downside. Traders taking profit on the bounce as helping the flush into the weekend.Note
Trade active:LCID moved higher. Took partial profit on half the call otpions at share price of $3.05. Price pulled back ina Fib Retrace. Reloaded at the pullback. A typical zig-zag strategy. Holing beyond this week. Looking for LCID to get more trader attention as TSLA struggles and FSR is all just become extinct.
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