#GME20WeekCycle
NOTE: Recorded a Detailed Educational video on Targets but had a computer issue and lost it before it uploaded to Tradingview. Luckily Tradingview allows users to download videos before publishing them which I always immediately do in case of upload issues. Please check it out on my YT.
GME price has developed into a massive Expanding Diagonal over the past year which come with DEEP RETRACEMENTS by nature so BE PATIENT
Next moves should see us target the 40ish region then after a deep retracement target LAST MAY HIGHS
After another deep retracement we will target ALL TIME HIGHS most likely
Get Ready!
NOTE: Recorded a Detailed Educational video on Targets but had a computer issue and lost it before it uploaded to Tradingview. Luckily Tradingview allows users to download videos before publishing them which I always immediately do in case of upload issues. Please check it out on my YT.
GME price has developed into a massive Expanding Diagonal over the past year which come with DEEP RETRACEMENTS by nature so BE PATIENT
Next moves should see us target the 40ish region then after a deep retracement target LAST MAY HIGHS
After another deep retracement we will target ALL TIME HIGHS most likely
Get Ready!
Trade active
If 27.50 breaks expect price to find support around the GREEN VWAP belowTrade closed: target reached
Morning!Casino will be open shortly
GME is looking good
Retracement zones on the chart show what levels im generally watching
Lets see what we get
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Lets see if todays low holdsWatching for price to head to the 1.00 extension
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Volume is anemic...don't think the entire week will be like this thoughNote
Oh and price is just sitting on VWAP which is tellingNote
As you know I BELIEVE in the power of Elliott Wave Theory and this is what the chart is telling me comes next from a bullish perspectiveI'm going to "dance with who brought me here"
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And thats a wrapLow volume day so not much movement
As I said earlier I do not think that will continue throughout the week
Going to go out on limb and say that this Wed probably looks more like last Wed from a Volume standpoint
Lets see if it happens
Tick Tock
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Morning!Casino will be open later
I'm going to save the words going forward as price will tell you better than I can whats coming
Elliott Wave BUILDS patience into your trading because once you understand the probabilities you know its just a matter of TIME
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Should see this head to 28.60ishNote
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Should see a bounce off the VWAP around the 0.5 retracementNote
Still looking lower but we could very much turn higher hereNote
Can you spot the 5 waves?Note
Ok we technically have "5 waves" but im watching now to see is if that 5th wave is complete or if price wants to extend higherIf so then may retrace to the green retracement area near the VWAP
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Ok we got our answerNow just waiting for it to turn
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Ok once we turn we should head about 29 then see another retracementAfter that retracement is complete we should make our way to above 32
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That deeper push changes nothing other than we are most likely in a diagonal pattern nowStill headed to 29!
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And thats a wrap!TICK TOCK
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Morning Casino will be open laterTick Tock
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Should be headed to 30Note
Well thats a wrap!Casino is already closed but havent near my computer today
You guys should know by now what I say about Diagonals- THEY COME WITH DEEP RETRACEMENTS
I said yesterday price had formed into one and we got a deep retracement as usual
Now we wait for the move higher which is normally volatile when diagonals complete
Tick Tock
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Morning!Casino will be open later
TICK TOCK
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No crystal balls, only probabilitiesI see two main potential paths to get up to the Wave 3 target on the chart
White shows the more direct path
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Strong bounce off VWAPNote
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A break of this green line should see a pretty strong move to the 2.00 extensionNote
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And thats a wrap!Two words people:
TICK...TOCK
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Moved things over a bitNote
Morning!Casino will be open soon
We are going to open down today most likely which is expected based on the structure
This is the point I expect price to start EXTENDING
I full expect price to blow thru the Wave (iii)
TICK TOCK
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Like I said..blowing thru expectationsNote
Note the typical resistance at the 1.00 extension at 31.38Note
Ok lets see how price handles the Wave (iii) areaNote
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And thats a wrap!Thought we would start extending and it certainly appears that is exactly what has happened
Going to have to adjust targets UP
TICK TOCK...
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Next main areas im watching
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.