Long

Updated

MOASS: WC: 29.05 Target: 1800-2400 MOASS: 47k-100K

Topics:

-Parabolic price movement is next
-Detailed explanation of Elliott Wave Count
-Path to the top of the smaller MOASS box at 2400
-JANUARY
-The cat and the emoji timeline

Trade active

Notice how nicely price respected the support and resistance zones

Trade closed: target reached

Volume IMHO is the most reliable predictive indicator

Note

Just so we are clear on near term expectations

We anticipate making it to 35 by end of week and then we anticipate a retracement to somewhere near support at around 30

Then we should be on our way to 40 in a pretty aggressive move up

Note

This should be an EXPLOSIVE earnings report..

Have no idea what the fundamentals of the earnings report will be..and I dont care..what I do know is this chart is saying almost no matter what, collective sentiment will interpret it as positive and price will move higher...again thats what the structure is telling us

Calling it now:

After we complete the retracement from the 35 area we should pretty aggressively head towards new all time highs

And this is what that move higher will look like

Note

Morning!

Casino will be open shortly

Keeping it simple we expect price to hit 35 this week, give us some sort of retracement to near 30 possibly and then head higher to 40

Note

Ok should be headed to 35..not in a straight line of course lol

Note

Nothing to see here folks

This is a diagonal structure we are dealing with and like we always tell you they come with lots of overlap and deep retracements

Still headed to 35!

Note

Ok bottom should be in as price has now pushed down to lower vwap support

This push has changed our count as price has traced out an even LARGER diagonal..

Shorts are having there fun at the moment but that ends real soon as we are on our way to 35 then 40 and beyond

Note

Oh forgot to add we bought another 40 on this dip as we do not expect to see these prices again after earnings

Note

This is what things look like at the lower levels coming up off this presumed bottom

Provided we dont develop some lower level diagonal type structure this is what the path should generally look like

Note

Ok based on what we are seeing now this is how we see this lower level move playing out

Note

The depth of that push clarified this count

Note

And thats a wrap!

Lots of intense selling today but nothing abnormal as price respected support and VWAPs and bounced

We are STILL headed to 35 then 40

Going to make this easy for you to track

Note

Morning!

Casino will be open soon

Was looking at the last couple weeks price action last night and there really are a few different ways you can count this

With that said the below makes the most sense based on how the larger timeframes are structured

M O A S S

Note

Price touched and bounced off the Oct 23rd VWAP

This is why weeks ago we stressed how important that VWAP is

Note

This is a 1 min chart

Its telling me that price is about to shoot higher

Note

GME and its love for overlapping price structures lol

1 min chart again

Note

And thats a wrap!

Good day overall!

Lots of overlapping price action on the lower timeframes which lets us know that some repositioning by major players is underway

Nice bounce right off the oct 23rd VWAP

Like we said still headed to 35 then 40 and beyond

M O A S S

Note

Session volume point of control looking nice and bullish

Note

Morning!

Casino will be open later

Expecting Oct 23rd VWAP to continue to support price as we head higher

35 and then 40 are squarely in our sights at this point

M O A S S

Note

VWAP still supporting price

Seems to be major players positioning themselves for earnings

Note

Notice how price is forming a base...thats a sign of an impending move

Note

And thats a wrap!

All things considered it was another good day..essentially a mirror of yesterday

Low volume, VWAPS held support but its fairly obvious to us that there is a good amount of "positioning" taking place behind the scenes at the order book level

All near term areas of interest are show on the chart

Still expecting a move to 35 and then 40 but also have lower support identified in case we get some massive earnings related sell off..even then it would take a break below 20 for me to get "worried".

M O A S S

Note

Morning!

Casino will be open later

Word/Acronym of the day: VWAP

VWAPs should continue to support price

As we said earlier in the week this should be an EXPLOSIVE earnings report as far as price action is concerned and should see price run up to 35

M O A S S

Note

Well would you look at that :)

Note

Told you all that 35 was on the way

And it appears the cat has resurfaced and is pointing to Jan

Funny because we have been pointing to Jan for months now and over the weekend we said that RK was too with his emoji stuff

Elliott Wave and TA in general for the win baby

Note

See that purple iii up near 100?

Thats where we are headed but we will talk about that more in the weekend update

:)

Note

And thats a wrap!

Well we told you earnings was shaping up to be explosive lol

And price is aiming squarely at 35 then 40 and then A LOT HIGHER

M O A S S...is happening

Note

Take note of the timing for a potential market top that I called out below...thats NOT a coincidence

Note

Morning!

Casino will be open later

Expecting price to continue to move higher but how high depends on what type of volume we get today

35 is next

M O A S S

Note

Provided the 28 level holds we are aimed squarely at 35

Note

28 is holding

Lets see where we end the day

Note

And thats a wrap!

Yet another exciting week!

I think we can all see where price is headed

I'll save the good stuff for the weekend update but as we've been saying all week...Earnings Should Be Explosive

M O A S S

Heartbeat_Trading

Also on:

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Heartbeat_Trading

Also on:

Related publications

Gamestop- Idiosynchratic Systemic Risk

by Heartbeat_Trading

MOASS: WC: 27.90 Target: 1800-2400 MOASS: 47k-100K

by Heartbeat_Trading