UPDATE ON GME SCENARIOS

Updated

I recently posted an update on GME scenarios. It looks scenario 2 is playing which means we have a C leg of a ABC corrective wave. Notice the retracement which is 61.8% of H1... very bullish. It's a 4 point bear trap, if this continues to play out.... we should see a L2 below L1.... I put a range where the next low should come. then we are going to experience a strong third impulse which will be a new high.

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It's important to also understand the two scenarios that I posted before this. It LOOKS like scenario 2 is playing out, but we can just as well be seeing a fake-out and scenario 1 is still in play

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WEEKEND UPDATE: I have calculated that B leg range should have been in range of $228-272

Then C Leg going to $88-$68.

IMPORTANT We did not see B leg hit this range, it's still plausible to go up and meet this range then go to C range.

TA is not an exact science, it's probably - you are trying to be right 70%.... so B leg COULD have been reached already or we could go up some in that range, then back down.

ALWAYS, ALWAYS do your own D

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Comment: Just thinking today and realizing what is the thing that will cause such a fury of BUYING (AKA GREED) that it will blow GME to the moon....

It will not be a 150 price, 200 price....$200 has been a big liquidity zone past few days. Too much supply at those levels (people willing to sell or too scared to hold)

Some potentials:

1) Game changing news (this is possibility)
2) Price

I don't think we will see new highs without a new low within this range. We saw the power that a $112-$120 price point has....

Imagine a 60-80 price point....

So, if we are going to get a new high we need game changing news or a new low. That's how I see it

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updated c leg range 102-77, follow me to get latest ideas and ranges you dont want to miss

TheJoeG

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