Gamestop
THE GME 💎🤙WEDGE BREAKOUT SQUEEZE Okay here is what I see when including the extended hours in the hourly.
A wedge is about to break. If it breaks north, the squeeze can start.
Its fueled by:
Weak bear volume in the last few hours of 3/2/21.
Stoch RSI in prime position to go up
Whatever people are saying about that solid DD coming up on 3/19.21
If it breaks south out of the wedge, well then, maybe it drops to $85 area? It might then catch a ride back up on that old green resistance line I have in place from weeks ago. It was already touched a few times recently on 2/26/21.
Charting to see how close I get in reality.
GAMESTOP -- Keep this simple. Late to the party on this one? No worries, it's still game-ON for profits.
Now that there are key ranges in play for ALL to see, this becomes easier to read. Do not complicate it any more than it needs to. Zero moving averages, zero indicators. Read the charts and follow the potential moves from these highlighted areas. Use your own methods for entry, but these are higher probable turning areas I expect to watch...double tops, double bottoms, false breaks, value reversion trading at its best.
Shorts are in the RED and longs are in the GREEN. The current value range WHITE has been created for us to use as targets.
Very similar to my BMBL IPO trade last month.
*Ideas are my own and not as recommendations
GME Liftoff?Lines made on 1 Minute Scale, so thats why it doesn't quite line up.
Trust, super clean on scale it won't let me show.
If you look at the smaller top triangle break on smaller scale, it consolidates on other side, bull flags into a cup and handle.
I wish it would let me show that, but I'll try to toss a bone anyway.
The bottom channel in red is the consolidation on the other side.
Just once again, a little wonky on size up.
I was going to wait for break in upper triangle to post, but that's too many bull signs to not say something.
172 @ 50.23 avg
777 PT, at least more than 250
Goodluck, Happy Trading.
GME chance for breakout today.Today looks like a good chance to break out of the downward cycle and have the candlesticks start to really make their way up. The opposite is also true, so be careful.
We tested yesterday and got rejected, we still made a higher low, gaining support again at 115. Will we get rejected again today? The odds are in our favour. Good luck everyone.
GME Falling Wedge pattern - Breakout Imminent!The Falling Wedge pattern can be observed here on the 1h chart. Here is why:
1) There are three reaction highs and reaction lows (circled in red) that are currently converging.
2) Volume is tapering off somewhat suggesting that selling pressure is abating.
3) An upwards breakout on a volume spike will confirm the pattern and is a very bullish event. A downwards breakout from the wedge implies a continuation of the downtrend and is thus bearish.
4) If a breakout occurs upwards watch for potential points of resistance near the previous reaction highs.
5) If the price exceeds the reaction highs and manages to consolidate above it, it will become a new support level.
Use indicators such as Chaikin Money Flow to follow where the money is going. CMF down - expect the price to head down. CMF up - expect the price to go up.
Please let me know whether you liked the idea. I personally am a believer in the long position for this stock at this time.
GME $175 GAP FILL!I got in for the meme. Wanted to be part of history and willing to lose the amount I put in.
Generally speaking the market doesn't like gaps. They need to get filled and so price has a chance going back to $175 or even beyond if people are crazy enough.
No technical analysis or fundamentals can really help in a trade like this......
BUT FUCK IT! LETS GOOOOOOOO!
$VIX - Ready for a small-mega spike (VIX & GME intra-week moon)Vix is ready to blow up any moment. From the looks of it, i recon it'll be blowing up intra-week this week. Grab your daily contracts boys.
Make sure to be loaded up on GME, when VIX blows up, GME is going to do the next mini-squeeze but not the MOASS (Mother of all squeezes).
If this VIX pattern continues +1 more time after this, that may be the MOASS. Vix would touch 40 in that case.
Looks like people got too comfortable and thought they could buy the dip, nope, there's more dip where that came from.
2nd Squeeze on $GME future Elliot Wave price action Please see the 2nd squeeze price action illustrated in Elliot Wave
We do consider we are already at the beginning of 3d wave which should land us at 1.618 fib extension
2nd wave was confirmed by 0.618 fib retracement.
The previous Squeeze was confirmed by Elliot Wave where 3d wave was extended and 5 waves landed on 0.618 of 1+3 waves. Amazing price action