As I reminded everyone in the youtube video earlier this week we are dealing with a large Diagonal structure in GME
There is nothing unusual AT ALL about the decline we saw this week
That is the nature of diagonals
Now we seem to be bottoming again around 30 which if that continues should see price rise to the 38 level then ultimately the 45 region
I also gave you 2 days to watch leading up to and during the week of 06/09:
06/05 and 06/11
Expecting to again see strong volume after those dates
I have no idea obviously but I would also expect The Cat to make an appearance around 06/09..probably on 06/08 if his Sunday posting pattern continues..but who really knows
At the end of the day im just watching FIBS, VOLUME and Indicator Confluence/Divergence
I'll leave the hopium to someone else...i'm strictly business from here out
GOOD TRADING TO YOU ALL
There is nothing unusual AT ALL about the decline we saw this week
That is the nature of diagonals
Now we seem to be bottoming again around 30 which if that continues should see price rise to the 38 level then ultimately the 45 region
I also gave you 2 days to watch leading up to and during the week of 06/09:
06/05 and 06/11
Expecting to again see strong volume after those dates
I have no idea obviously but I would also expect The Cat to make an appearance around 06/09..probably on 06/08 if his Sunday posting pattern continues..but who really knows
At the end of the day im just watching FIBS, VOLUME and Indicator Confluence/Divergence
I'll leave the hopium to someone else...i'm strictly business from here out
GOOD TRADING TO YOU ALL
Trade active
Morning!Casino will be open later
Lets see how price treats this 30 region today
Remember:
Looking for ABCs higher..and im looking for them on ALL timeframes because this is a diagonal
Trade closed: target reached
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And thats a wrap!Green day overall
Typical overlapping price structure as is normal for diagonals
Making some nice "ABCs" though
I'm realllllllyyyyy interested to see what we get on Thur/Friday though
TICK TOCK
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Morning!Casino will be open later
Still just watching for ABCs to develop and for price to continue higher
Also be aware that we will continue to see deep retracements of moves higher due to this likely being a diagonal structure we are in
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GME could turn higher at any point nowNote
If we get above 30.70 we should keep goingNote
Ok nice trend line breakBottom imminent as indicated by the arrow thats been there all day lol
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And thats a wrap!HEAVY shorting today in response to a favorable VIX
Lots of accumulation happening around these VWAPS and VPOCs
Should see a significant move as price leaves this region
Tick Tock
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Elliott Wave is my base analysis tool but my TA bag goes deeeeeeppppLets talk liquidity zones and Candles
And ill say it again
38 is next then 45 and then after a sizeable retracement 57..
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Morning!Casino will be open later
Time to zoom out and focus on the big picture
Tick Tock
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And thats a wrap!Today had me cracking up
65% off exchange and now slamming the bid at the close
Yeah something is brewing
Good luck keeping it under 30 tomorrow :)
TICK TOCK
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Morning!Casino will be open later
You know what Im looking for (ABCs) so just watching to see how price advances
BTW the Yellow lines are POTENTIAL FUTURE PIVOT POINTS i.e. places where we may see price turn (won't know what direction until we get there)
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If this triangle plays out we are going to see a nice move up but it will be almost completely retraced..After that retracement we will head to above whereever that move up off the triangle peaks
This is why you stay zoomed out as the lower level price action in diagonals is crazy
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Ok triangle structure broke downIf this pushes lower then we head to VWAP
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Stick Save?Note
And thats a wrapWell another overlapping day which is par for the course dealing diagonals regardless of the broader market drama
Didnt get the volume I expected today but thinking we get it the day tomorrow which is similar to my 05/21 call for volume which saw it actually come in on 05/22
Either way the week of 06/09 is looming and we are about to see how valid this 20 week cycle stuff really is
TICK TOCK
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Morning!Casino will be open later
Lets see if volume picks up today
VWAPs/VPOCs below are support
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Volume is anemic..hmmmnNote
Im a fan of many different TA disciplines..although EWT is my baseIn elliott wave sometimes is difficult to clearly count waves when the price action is consolidating and "going sideways:
Typically you will see Elliotticians broadly count that type of price action as a "combination" pattern- meaning its a mixture of many different motive/impulsive/corrective waves
I personally have found that Wyckoff does a good job of explaining that price action and subsequently Ive added it to my TA tool bag
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And thats a wrap!Green day but its obvious they were doing what they could to keep things under Max pain
Volume/Volatility was extremely muted along with sending 60% off exchange
But guess what next week is? The WEEK OF 06/09
Tomorrow is my LAST PLANNED VIDEO on GME...
I plan to run down what I expect coming up and drop some new info on the 20 week cycle (the new stuff DOESNT CHANGE ANYTHING..just new nuggets to chew on)
BTW- I still think if The Cat comes back soon it will be Sunday 06/08
So TICK TOCK shorties
TIME TO SEE HOW REAL THIS 20 WEEK CYCLE STUFF REALLY IS
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.