MP (1D) - Midterm correction to continue ?
Updated
Hi Traders,
I had Long position in MP Materials, because I realy like their business model and really think that in long term US government should and will be supporting companies which provide Rare materials for EV/Battery/drones/... and related sectors.
Regardles, the Fundamental Analysis.... Technical Analysis cannot be ignored. You can se alredy formed 1:1: Extension with overlaping of something what could be marked as abc uptrend correction of drop.
Im alredy OUT of position with some profit. Its too risky for my RRR ... and will wait for another crash. Everything important is in the chart.
As usually, I will notify you with my EW count of subwaves. In case that marked resistance zone around 46 USD will be broken upwards. than we should wait for retracement and confirmation of that area as a support (hence there will be chance to open long position).
Trade safe and enjoy the game ;)
I had Long position in MP Materials, because I realy like their business model and really think that in long term US government should and will be supporting companies which provide Rare materials for EV/Battery/drones/... and related sectors.
Regardles, the Fundamental Analysis.... Technical Analysis cannot be ignored. You can se alredy formed 1:1: Extension with overlaping of something what could be marked as abc uptrend correction of drop.
Im alredy OUT of position with some profit. Its too risky for my RRR ... and will wait for another crash. Everything important is in the chart.
As usually, I will notify you with my EW count of subwaves. In case that marked resistance zone around 46 USD will be broken upwards. than we should wait for retracement and confirmation of that area as a support (hence there will be chance to open long position).
Trade safe and enjoy the game ;)
Note
Hi Trades, this overlapying at wave 4 is not good sign. It can mean that wave c of B is finished. Hence there is huge risk of Fall about 50% down. STay tuned, prepare your buy orders ad have fun.
Note
There we go, absolutely nothing has chenged ... except confirmation of resistance zone. Note
I told You, too much overlaping for impulsive wave ;) Trade active
Still waiting ;)
Note
Important NOTE: 17.3:2022 is will be release of Earnings for Q4/21: thats enough time to reach bottom :D
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