Back Up Action In Progress For UWC?

12 sept 2019

5292

• Some might call it a cup and handle breakout.
  
• Some might call it a double bottom or a triangle breakout.
  
• It doesn't really matter as long as the breakout can be sustained.
  
• The breakout comes with decent demand and currently seems like a backup action in progress with low supply, which is encouraging.
  
• The accumulation zone suggests the supply level is low with a feather like movement towards the resistance (at 1.53).
  
• When the backup action (or test) is done for the breakout bar at 10 Sep 2019, the rally should be resumed.
  
• Don't be surprise by a momentum bar like 22 Aug 2019 after the completion of the back up process.
  
• Using traditional technical analysis projection with a 1-1 ratio, 1,80 could be the first target.
  
• A bearish commitment below 1.49 would violate the bullish case.
  

22 sept 2019

Operación activa

Supply has been exhausted. Backup action could near completion. Looking for quality demand to kick start the rally.

3 oct 2019

Nota

Waiting for quality demand to break above 1.62.

15 oct 2019

Nota

- After break out of 1.62 and a test, UWC resumes its rally and hit the first target - 1.8.
- Despite weak closing today, the supply level is not high.
- A stop can be adjusted to 1.64 and expect more upside follow.

21 oct 2019

Nota

- Ease of movement with momentum bars showed up.
- Climatic run up in the past days.
- Price is overbought.
- Tighten the stop loss to 1.96 to protect the profit.
- Watch out for supply emergence while continue to ride on the trend.

22 oct 2019

Operación cerrada manualmente

Lock in profit as UWC hit below 1.96. Exit the trade.