Another Bear Flag for GME
I shared a longer term bear flag on GME recently as reasoning for my short position. It's looking pretty good so far, another bear flag on the 15m. First target for me is the 21.50 area and eventually the lows from early August as a final target.
Note
No big break this week it seems, but still looking very bearish. I'm comfortable with my puts as long as it remains under 23.50 as I said in the original idea. Lots of chop in the short term, hasn't been very clean action. I'd expect a decent break from this range from about 22-23 is broken and sustained.
Can break either way, but the direction is down until something changes.
Note
Dunning-Kruger strikes again.
If I could give one piece of advice to a new trader on the internet, it would be to avoid Reddit in general, but especially avoid the subreddits that are full of folks who have never traded a day in their lives and spend every second they have reading about conspiracy theories and other nonsense from internet trolls.
If you would just put that much effort into learning how the market works, you could be an unstoppable trader, but no one wants to do that. Also, if you are so emotionally tied to a stock or trade that your instant reaction is to attack everyone who has a short idea on your stock because you are so threatened by it, you will most likely never become a profitable trader.
AP Academy Beta Registration Open:
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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Disclaimer
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