lets see if cluster support holds here UUUU approaching cluster support area! good chances we bounce here but be ready to play downside just incase it doesn't ;)
long trigger at 8.85, short trigger 7.41
0UU0 trade ideas
UUUUlooks like my Z wave is playing out for the UUUU here, to understand WXYXZ pattern is to know that a series of 3-3-3-3-3 wave patterns have evolved and they are sideways in the chart not compressed into a triangle which would rule the 3 wave pattern as an ABCDE. Now looking at the stoch RSI and also the standard RSI we can see they are both dropping from over bought with room to drop, also the daily rsi has much room. If the Z wave ends up in typical Z wave fashion it would look like the start of an impulse but is actually the end of the WXYXZ pattern and shows all bullish momo has finished . So if I'm correct we are in W2 on H4 and the daily should hit 1.618 fib lvl for a W3 around $4.70 to confirm my chart.
UUUU Head & Shoulders FormationUUUU formed a nice looking ascending head and shoulders formation and we saw the neck line break on January 13th. The head and shoulders formation most commonly indicates a reversal, but in this case we could see similar price action as March through April of 2021. However, as the overall market has been performing poorly it is likely we see further downside to support at $6.42.
UUUU LONG. Uranium Exploding higher with Worldwide Energy NeedsI am a bit late to the party on this one. But UUUU has a prior ATH of over $200. MONTHLY chart is starting what appears to be a strong uptrend. Weekly , Daily charts already look strong as well. Recent bounce off TL support (Yellow Line) which happens to also be Horizontal support (Green Line). Long Wick on yesterday's candle and todays break above Horizontal support and yesterday's high of the day are further BUY signals. MACD Rising and above ZERO line. Add to this all the worldwide energy needs and Fundamental reasons for Uranium to skyrocket soon and this trade feels like a no brainer. usually I try to catch the trend a bit earlier but this is definitely a good LOW RISK Trade. Entry will be LIMIT Order @ $8.41. We will see if we fill at better price. If it does not fill within 1st 10 min of trading then I will plan on entering in at the then current price @ 0940 AM.
Entry = $8.41...???
SL = $7.28
1st TP = $11. Will reeval TP levels as price action evolves.
EFR one of my long term bagsSo full disclosure 1- I have no clue what i am doing and i am an unsophisticated trader 2- I got in @4.50$ after noticing the break out of a 12 year downtrend + increasing volume pretty basic stuff.
Hope this one works out as planed... this one of my long term play .
I will add to position on any decent dip. Uranium is hot it will melt faces.
good luck to all my fellow EFR Bullievers
$UUUU & *Completed* Wyckoff AccumulationThose of you who know me know I **LOVE** finding completed Wyckoff Accumulations. Today is a good day, because we found another one.
Introducing $UUUU. This stock has recently completed ~6 years of accumulation and appears to be in the early stages of markup. If you go through my related ideas of some other assets that have had similar setups, observe how those patterns ended up playing out. And bonus points here with how LONG (how much TIME) has gone into this pattern. This isn't like the 1 or 2 month patterns that crypto TA loves to go all-in with... this is ~6 years worth of effort to bring us to the start of what appears to be a major run.
Note: Don't get too caught up in FOMO - with a 6 year floor, I'd estimate it will be a year or two for the stock to hit it's ultimate top. Of course, the market is going to do whatever it wants and not ask our permission. If it pulls a GME and insta-moons with all of WSB, then the top will be found much, much sooner than a couple years (imo/nfa).
Link to schematic for review
school.stockcharts.com
