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vikinsa
Sep 2, 2021 12:12 PM

UBER Can Ride To On Bullish Reversal (M Patterns Formed) Long

Uber Technologies, Inc.NYSE

Description

Traders,

Uber has been falling down and has not completed an M pattern. There is an extended version of the M pattern available below where we have better FCP Buy Zone. If the upper FCP (Fibonacci Confluence Zone) gives a breakout we can initiate a position and if and when it comes down to the lower FCP zone we can add the position.
Targets are market in white horizontal lines.

Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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Trade closed: target reached

UBER reached the first profit target 💥🙂 Up 23%

Comments
virinchyp
@vikinsa wow, there is a gap up from FCP buy zone. Would it be a good idea to look for a gap closure to fill the bags?
vikinsa
@virinchyp, no, not all markets work on gaps
ConConMcG
Thanks Vik - I'll be watching for a reversal!
vikinsa
@conormcgurk1, Good luck!
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