GME: History Repeats Itself | 61.54% Potential Reversal
Updated
Gamestop Corp (GME) has been a hot topic in the financial markets, and it seems history might be repeating itself.
After a significant drop, GME has shown signs of a potential reversal, with technical probabilistic indicators are suggesting a bullish trend.
In this trade idea, I will analyze the current market conditions, key levels to watch, and a potential entry and exit strategy for GME.
Key Points:
GME has experienced a considerable decline in recent months, which may be attributed to market volatility and investor sentiment.
My FREE OrderFlow indicator is indicating a bullish trend may be on the horizon.
This probability analysis suggests price rejection at the 0.5 level, which could serve as a potential entry point.
The 30m buyside liquidity level could act as a potential target for short-term target while the 1W buyside liquidity acts as long term target at $120.
Entry:
Wait for confirmation of a bullish reversal, such as a break above the 0.5 Fibonacci retracement level or a strong bullish candle on the 30m chart.
Set a stop-loss order below the recent sellside liquidity on 30m.
Exit:
Consider using a trailing stop-loss to protect profits as the trade progresses.
Risk Management:
Ensure that the trade size is appropriate for your account size and risk tolerance.
Use proper position sizing to manage risk effectively.
Monitor the trade and be prepared to exit if the market conditions change or the trade setup fails.
Please note that this is not financial advice and should be used for educational purposes only. Always conduct your own research and analysis before making any trading decisions.
After a significant drop, GME has shown signs of a potential reversal, with technical probabilistic indicators are suggesting a bullish trend.
In this trade idea, I will analyze the current market conditions, key levels to watch, and a potential entry and exit strategy for GME.
Key Points:
GME has experienced a considerable decline in recent months, which may be attributed to market volatility and investor sentiment.
My FREE OrderFlow indicator is indicating a bullish trend may be on the horizon.
This probability analysis suggests price rejection at the 0.5 level, which could serve as a potential entry point.
The 30m buyside liquidity level could act as a potential target for short-term target while the 1W buyside liquidity acts as long term target at $120.
Entry:
Wait for confirmation of a bullish reversal, such as a break above the 0.5 Fibonacci retracement level or a strong bullish candle on the 30m chart.
Set a stop-loss order below the recent sellside liquidity on 30m.
Exit:
Consider using a trailing stop-loss to protect profits as the trade progresses.
Risk Management:
Ensure that the trade size is appropriate for your account size and risk tolerance.
Use proper position sizing to manage risk effectively.
Monitor the trade and be prepared to exit if the market conditions change or the trade setup fails.
Please note that this is not financial advice and should be used for educational purposes only. Always conduct your own research and analysis before making any trading decisions.
Trade closed: target reached
First target reached | TP1Note
2nd potential entry this week:Trade active
Same setup on repeatTrade closed: stop reached
-1
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