Long

UBER - 70 or 80 before another consolidation ?

Updated

Price is breaking out of this Triangle red wave 4 consolidation and we have an impulsive wave on the smaller time frame chart.

It looks to be finishing a fifth wave now therefore we can expect a pullback towards 55/56-ish before seeing it continue higher again.

The setup is of course invalidated if price drops below 51.80.

Note

UBER - Made a nice pullback as expected but it might not be over just yet as current rise might be just a wave 4.
You can go long now or wait for a longer base to form first.

Note

It seems the correction was indeed not over but there's a high chance now that it did finish now.
A move above ~55.5 without going below 53 ideally should take this towards 70 at first.

ElliottWaveBelgium

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