Why I Like the Setup
Secular Up-Channel: Since mid-2023 price has respected a textbook rising channel (~$30 tall).
Fresh Breakout Attempt: UBER is now pressing the upper rail near $100. A daily close above it would signal a new expansion phase.
Measured-Move Math: Projecting the channel’s height from the breakout pivot (~$80) gives Target-1 ≈ $110-113; the 127 % fib expansion points to Target-2 ≈ $124-128.
Volume Profile Tailwind: The histogram thins sharply once price is north of $100, meaning little “stored” supply until $112; a larger node re-appears near $120, my second profit zone.
Secular Up-Channel: Since mid-2023 price has respected a textbook rising channel (~$30 tall).
Fresh Breakout Attempt: UBER is now pressing the upper rail near $100. A daily close above it would signal a new expansion phase.
Measured-Move Math: Projecting the channel’s height from the breakout pivot (~$80) gives Target-1 ≈ $110-113; the 127 % fib expansion points to Target-2 ≈ $124-128.
Volume Profile Tailwind: The histogram thins sharply once price is north of $100, meaning little “stored” supply until $112; a larger node re-appears near $120, my second profit zone.
VM
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.