GME - A local Higher High is Likely
Updated
Hello all, just a man following those pennies.
The structure I am seeing on GME hints at a likely higher low to form Thursday (6/13/24). I do believe that there's a significant likelihood we see a bullish sweep, and looking at this overall structure I do believe a higher local high (above $34) will be made.
However, the long-term picture of this, suggests a likely fall in price after this next move. Will be watching to see how this pans out, but I plan on taking a low risk trade in the Morning given pre-market isn't a slaughter below $22.85 range. Who knows, sometimes GME moves so fast and with such volatility we could gap up with insane momentum within the first few trading hours leaving me unable to take this trade. Even if I were to go short via puts/stock on the rise, the risk and gamma squeeze would leave me disinterested. Let's see how tomorrow opens.
The pennies suggest a higher low.
have a good one :)
The structure I am seeing on GME hints at a likely higher low to form Thursday (6/13/24). I do believe that there's a significant likelihood we see a bullish sweep, and looking at this overall structure I do believe a higher local high (above $34) will be made.
However, the long-term picture of this, suggests a likely fall in price after this next move. Will be watching to see how this pans out, but I plan on taking a low risk trade in the Morning given pre-market isn't a slaughter below $22.85 range. Who knows, sometimes GME moves so fast and with such volatility we could gap up with insane momentum within the first few trading hours leaving me unable to take this trade. Even if I were to go short via puts/stock on the rise, the risk and gamma squeeze would leave me disinterested. Let's see how tomorrow opens.
The pennies suggest a higher low.
have a good one :)
Comment
Higher Low Secured. Have 2 scenarios in mind as I was expecting a little more downside that we didn't end up seeing. Don't have any price targets in mind for how high we climb past $33, but upper $36-38 range is likely imo.Bullish Scenario (I would like a gap up around $30 per share)
Bearish Scenario (Flash crash before resuming ascending trend)
Comment
We failed to gap up above $30 - the pennies suggest a flash crash to $24.00 range.Trade active
CHECKMATE BABY!I am going long on this, TIME TO GO GET SOME PENNIES LADS!
Comment
Not sure how this structure will present itself, but $33+ from here is a given.
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.