WC: 22.14 Target: 1800-2400 MOASS: 47k-100K: What Now?As I said in the end of day update yesterday the WEEK OF 06/09 was a doozy.
As part of my #GME20WeekCycle theory that week is significant as it is one of the few dates The Cat specifically "gave us" in his tweets...and serves as significant "line in the sand" from which we should look for significant price improvement (covered in the last 3 video updates) (at least thats my theory)
I expected positive price improvement of course this week...but we got the opposite because of the Convertible offering
Along with that we also got TONS OF VOLATILITY AND VOLUME..which I also expected
So what does the mean as far as the cycle theory goes?
This doesnt change anything for me because I never thought or said that we HAVE to get price improvement during that week..its just what I expected because I anticipated BUY VOLUME to come in
I also was CLEAR in the videos that its not just about the day or week of...its about the WHOLE CYCLE
I specifically talked in last video and in the LIVE on 06/09 about adjusting my expectations and to stop "looking for it all" to happen at one time or any given time..
So again I got 2 out the 3 things I was looking for this week: I got Volume and Volatility..just no Positive Price improvement...YET :)
Looking forward I expect the same thing to transpire as the last Convertible offering: Significant Positive Price Improvement
Last time we saw a 72% run from April low to May high
This time I expect 100% move before we see a significant retracement BUT we do need to watch the 38 LEVEL carefully as its a PRIME AREA for retracement due to the presence of overlapping 1.00 extensions....yeah definitely need to watch that area
And yes we are still in a MASSIVE diagonal pattern so look for the ABCs and continue to expect DEEP RETRACEMENTS of ANY significant moves up
GME DECODED
Expanded View of Cycles
Fib Focused Chart. Yellow Vertical lines are FUTURE POTENTIAL PRICE PIVOTS (I absolutely believe these to be powerful)
Above EACH horizontal white line is a Zone of Low Liquidity. There is nothing above 32 but there is also NOW NOTHING ABOVE 22. Once price gets going higher this becomes a VERY REAL PROBLEM FOR SHORTS i.e. why we are getting EPIC SHORTING between 32-34
Next Week. Short Term levels im watching
GOOD TRADING TO YOU ALL!!!
Gme20weekcycle
WC: 29.58 Target: 1800-2400 MOASS: 47k-100K: Week Of 06/09Ok this is my last video on Gamestop
You will see less frequent posts going forward and they will be at the MACRO level and focused almost exclusively on the daily charts
Its been a ride covering this over the past year or so
True to my posting intention (I'm only here to help people trade better) this video is educational in nature
Its not hopium fueled at all...this is me, one last time...TEACHING YOU HOW TO FISH
First half of the video is setting your charts up for the squeeze
Second half of the video is showing you some new stuff around the 20 Week Cycle that you havent seen before
But yeah..no hype...just TA and some rambling..because as my Tagline on my X profile says i'm:
"Just a guy who likes to draw Elliott Waves on stock charts and ramble on about markets."
GOOD TRADING TO YOU ALL...SEE YOU ON THE OTHER SIDE!
WC: 29.80 Target: 1800-2400 MOASS: 47k-100K: Time to FOCUSAs 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
WC: 33.03 Target: 1800-2400 MOASS: 47k-100K: TICK TOCKIt would be easy to be really hyperbolic with my tone and words right based on the latest price action...but I'm NOT going to be
I am a TRADER and in order to extract profit consistently over time its important to manage the PSYCHOLOGICAL aspect of trading well i.e. your emotions
That's why I going to focus on only the TECHNICALS because THAT, for me, is what's going to ensure that I see as much PROFIT as possible from this trade:
WC: 27.54 Target: 1800-2400 MOASS: 47k-100K: #GME20WeekCycleLast weeks post, Gamestop Decoded, laid bare everything that I'm fully confident on related to the timing of settlement cycles and The Cats plays
To summarize, GME moves on a 20 week settlement cycle that in its current iteration kicked off the week of Nov 27, 2023
The Cat seems to be amplifying price improvement thru strategic options/ share buying during Low IV periods within the settlement periods
I'll talk about some other interesting aspects of this in my next video on, 05/17
Whats Next?
As explained in the Gamestop Decoded video, from the WEEK ( not day ) of 05/12 thru the WEEK of 06/02 I anticipate volume to pick up significantly due to The Cat starting to receive his ORIGINALS which are WHATS IN THE BOX
That will lead to the WEEK of 06/09 which equates to the EXPLOSION EMOJI in the EMOJI Timeline
P.S. I will be GOING LIVE on my YT channel on 06/09 if you care to hear me ramble about whatever price action we see lol
GOOD TRADING TO YOU ALL!!!