more than likely liquidity creation towards downside to then provide and pump juice for upside which may go further, before hitting a nice zone to reverse continuing downwards on the daily/weekly
gu short, going upside short term to grab liquidity then revers and grab the liq of the breakout buyers heading down for the support buyers before filling in the imbalance/inefficiency and gap in market from all the buys from reaction to fomc meeting then reversing and going upwards using the resistance/support people who shorted after breaking the 3 equal lows...
With the majority of liquidity being in the form of stop losses from sellers overwhelming the liquidity provided from buyers, with the only liquidity being from the area under the bottom double bottom at 1960.50, after that is taken out along with the stop losses of the retail buyers with a strong bear move, the price would then likely continue to the downside and...
GME going to 700$ if more retail traders buy the stock which puts more and more pressure on the hedge funds to liquidate their short position and buy back all the borrowed shares causing the price to rise higher and higher
After price was in a range it broke to the downside, taking out some buyers and grabbing liquidity and also causing some people to sell, now price is going to be heading up to grab the liquidity of the sellers who are still holding, after that happens we are likely going to see price continue on to the imbalance then reversing and going back down to around 0.72400.
Upwards channel on GU on the daily chart, could be possibly traded nicely on the smaller time frames next week if it bounces off, if it ends up breaking, good sells on smaller time frames such as the 1 & 4 hours would be quite good, it is however more likely to bounce off rather than break but again you can never predict the markets with a 100% accuracy so just...
