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GME trade ideas

GME - back-test holds - bounce timeGME back-tested the recent break-out of the descending wedge and held/bounced during the Thursday/Friday trading sessions last week. Bullish. Price is also finding support on the 0.382 fib level here. This fib was important on the way down as GME held/bounced along it at least 3 times on the down wave, and this general price zone has been important for this equity post sneeze providing significant support & resistance. Firefly (AFL momentum /volatility indicator via Lazybear) is trending bullish (14/3 setting) and GMEs price has bounced up +10% or more at the +/-65 level on 3 prior runs - see indicator on chart. A little more AFL Firefly Info here: www.wisestocktrader.com Confirmation of a near-term bottom is supported via RSI 2 Strategy Lower Indicator (Chris Moody) which hit the short term buy signal on the daily last Friday. More information on this indicator is found in the community scripts on TV, where CM describes it as follows: T he RSI-2 Strategy is designed to use on Daily Bars, however it is a short term trading strategy. The average length of time in a trade is just over 2 days. But the results CRUSH the general market averages . My take is historically this indicator has not been a slam dunk for GME but has accurately identified several near-term bottoms including the decisive March 14th low and thankfully helped convince me to add several shares then at ~$88. Further, the 100-day MA is hovering around $140 level providing additional support for GME and is just below Friday's closing price of $146.xx. Spec paly = buy OTM call(s) in $155/$160 range on a "typical" AM price mash that takes GME down near 100-day MA with a fairly near term/cheaper exp. date and sell call on the anticipated bounce OR just buy/hold shares... Max pain currently listed as $145 for 4/14 and $132 on 4/22 - so much caution is warranted . maximum-pain.com Not financial advice.
NYSE:GMELong
by Akksujean
7
The Psychology of the trader The Psychology of the Trader: The Key to SUCCESS A failing psychology and poor control of this impulses will inevitably lead the trader to failure regardless of the methods and techniques you use. The trader must control his emotions, impulses, work on his person. A trader can make a lot of money and lose everything if he lacks self-control. The real work of a trader is therefore to work on his psychology to succed in channeling his emotions or at least finding ways to keep them under control. Trading is above all a personal experience , one of the most difficult adventures of our life but also the most exciting. There are no pretenses in trading, by trading we discover what is in us, the instinctual being that is buried deep within us. Many traders for fear of what they have in them refuse to see this fundamental part in trading which represents 90% of the results. In conclusion, a trader without a method who controls his urges will make money, a trader with the best method in the world will inevitably lose money , if he has not done the only work that is profitable in trading: WORK ON YOURSELF....... Thank you for your attention.....God bless....
NYSE:GME
by PAZINI19
GME FIB levels and RSIDAILY: GME hit oversold on RSI March 28 from the run up starting March 18. looking for a pull back here. If you play fibs or pay attention to fib levels the 1.61 is a possibility of a High and a break out or rejection (can go up or down, ha). more general a rejection. So High for the run could be 353 (unlikely IMO as there has now been multiple rejections of 190-200 levels) Please be weary of losing $163 support and heading to $140. I believe in the Fib Bro's swing trading methods. lookin at the .382, .5 and .618. We were heading for $163 (possibly lower) prior to the split announcement. I am bullish, long on GME. People get upset at charting and then get upset at reading fundamentals. People should look more at making money. Buy and holding beats, timing the market; but, timing the market makes ya feel like a BOSS! check out my january fib levels post.
NYSE:GMELong
by GratefulGains
2
Adding to GME long position and trailing stops Trailing up stops on my lower entries on GME and adding to my long positions now quite tight stops are available on new entries. Been accumulating long positions on GME with trailing stops since around 80. After we hit my long term short area. GME may be in a move similar to the range after the 200% one day increase after the first big GME crash to 50 and be soon heading into another strong move up to over 300. We might also be at the end of a bull trap. Caution is needed now. Good buy trade so long as stop is well placed. GME can still trade under 50 if it downtrends further.
NYSE:GMELong
by holeyprofit