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 ;)
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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.
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There we go, absolutely nothing has chenged ... except confirmation of resistance zone.
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I told You, too much overlaping for impulsive wave ;)
Trade active
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Still waiting ;)
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Important NOTE: 17.3:2022 is will be release of Earnings for Q4/21:
You gotta stomach it to through the 50S before we come back to $38 friend, TSLA been rippin if you have not been following.
SlavicChartist
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@CalebTrades005, Maybe, right now I have some more interesting charts with better Long setup... check ABML and NNDM ;)
SlavicChartist
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@CalebTrades005, Looks like we alredy found the right direction ;)
Get Ready to collect some shares 10-16 usd range...
SlavicChartist
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@CalebTrades005, So 38 alredy there again :D, but i dont think its ready to reverse trend Yet.
XCatcherTrading
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use the second standard deviation channel
Vlcounek
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So I can see that instead of dropping to the 35-37 zone on your chart, today MP is near to its ATH ;)
SlavicChartist
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@Cryptovlcoun, My Sell Zone was reached. So i took +30% profit ... right now we are below resistance zone. Too risky for my strategy.
Also recommendation to read carefully my notes below each 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)."
Hence if we break resistance UP I want to see 46-48 usd range confirmed as support. Then I will consider opening new Long trade ;)