$UBER completed the Stage 2A breakout on heavy volume in November and now having its first significant pullback in the turbulence zone.
I'm watching for it to backup towards the 47-44 area on lower volume to form a potential lower risk secondary entry point.
Horizontal P&F count on a 1 box scale, 3 reversal gives a count of 35 x 1 x 3 = 105. So from the countline of 33 that projects up to 138, and from the extreme low at 14 that projects up to 119.
So target range from the full Stage 1 base of 119 to 138
(2020-12-15, 06:03 PM)isatrader Wrote: $RXT starting to make the pullback I was watching for following its strong rally off the lows of the developing base. Ideally I'm looking for it to drop back to the 18-19 liquidity range and for supply to diminish as it declines for a potential entry point
$RXT continues it's initial pullback, but remains near the highs so far around the 20 level
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(2020-11-21, 06:54 PM)isatrader Wrote: $ZI recent IPO developing a primary Stage 1 base with some contraction in volatility. Watching for a breakout above 48 on strong relative volume
I highlighted $ZI a month as it was forming its primary Stage 1 base. Which has now developed further and is at a potential early entry point within the base using a Wyckoff method point of entry, as its sitting on the lower channel line, which could potentially be a Last Point of Support (LPS).
Intraday on the 30 minute chart you can see a Stage 1 base forming, with the supply line broken and it starting to flatten out and contract.
Note: a 20% move would take it just under the Dec high, so potential for a swing trade within the base before a potential move into Stage 2.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
