URA still a little more downside for the next tradeRisk to reward will look quite good. and 40$ should be achieved.
After the breakout (the red dotted line)
URA trade ideas
Uranium down until at least 03-Jul-2023We are near the end of completing a complex correction consisting of several 3 wave structures. I'm labeling them A-B-C-D-E. It could also be abcXabc; but in any case the trend and prediction is down. I'd like to see the correction take as long as the impulse. July 3rd is at a minimum the same length of time.
Destination for wave E is in the green box
1. is after july 3rd
2. near the gap from early 2021
3. between the .786 and 1 fib
After target is reached, we should have a strong bull market for years to come
$URA Cup & handleNot financial advice.
$URA still on this downtrend wedge to fill gap at green area and at the same time long term will form a nice cup & handle for continuation on the bullish side.. be patient since has been almost 1.5 years forming the handle.
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Thank you!
Alex.
(URA) Uranium ETF Monthly OutlookExpecting a breakout in March/April 2023 as the price is beginning to touch spiral support. A sideways support structure is being built.
If the spiral is broken expect the orange spiral to act as support. Otherwise, price should begin to be attracted to the red overhead resistance spiral.
This is a long-term outlook.
Bullish: 46 is the next level of resistance (2023-2024), and once cleared 63-69 zone is on deck (2025-2027).
Bearish: Price fails the current support spiral, falls to $12, and then price works back to the green spiral.
Holding the current support spiral is key.
Bull Trap Forming...Many are sold on the fact the bottom is in here...However I think not (can I be wrong sure but probably unlikely), One of the main reasons is because the leg I have labelled A substructure of C terminated in 3wave structure which is not typical of a completed C wave (hence I do not believe the bottom is in - it's just half the move) and we're in the process of working on a B wave top before waterfalling down.
Buy URA. Target 38.32, stop at 17.18Fundamentals favor uranium and price action is showing transfer from weak to strong hands as complete. BC broke previous buy to sell. Stop is at 17.18 in case it wicks the buyers before shooting upward. The 3 recent peaks form a creek -->ready for liquidation.
Partials at 24.31 and 31.51
Uranium ETF Wave ForecastAMEX:URA
URA, the Global X Uranium ETF has completed the first wave of an impulse move, and is in the process of completing a Wave 2 correction.
Wave 2 appears to be a complex correction consisting of two corrective patterns. (Zig-Zag + Triangle)
The triangle is still in the process of completing it's structure.
(I also want to note the possibility that wave 2 has already completed a flat correction and that the triangle shown in this chart could be wave 1 & 2 of the 3rd wave of larger degree.)
Either way, price should begin rising sharply within the next month or two as it completes the triangle correction and begins Wave 3.
Or in the case that Wave 2 is a flat, Wave 3 of 3 could already be on it's way.
I've used a Modified Schiff Pitchfork to form a channel for the rest of this impulse move.
I've kept these projections pretty conservative, the actual move could be much larger.
Wave 3 is a 1.618 extension of Wave 1, and Wave 5 is only slightly larger than Wave 1.
(Wave 5 = .786 of Wave 3, compared to Wave1 being .618 of Wave 3)
Being that Wave 2 is a complex corrective pattern (zig-zag + triangle), I've projected Wave 4 as a flat correction.
(If Wave 3 begins very soon, it would be likely that Wave 2 was actually a flat. If this is the case, expect Wave 4 to be a Zig-Zag)
Disregarding any wave structure, price has formed a giant bull flag.
I'm going to be purchasing some long-dated call options on URA once price breaks out of this bull flag and begins Wave 3.
My conservative targets are Wave 3 = $60 and Wave 5 = $77
Fat_Fat
