TLDR:
- BOOM!!!
- Volume Point of Control (VPOC) is critical to watch as well
- VPOC tracks the major waves in the wave cycle and will sit between major waves
- VPOC and where it sits in relation to price, like VWAP, helps us track the progression of waves
- Next move will take us to the 35-40 region
- Price will then retrace back to the 28 region which is where we will see an EXPLOSION IN PRICE
- That move back to 28 will be your last time, maybe ever, to get GME at anything near these levels
- The next move after the retracement to 28 takes us to 70
- After 70 comes CHEERS EVERYBODY!!!
Trade active
Morning!Casino will be open later
Our weekend update was pretty clear on what we think is next
Price should find a bottom over the next couple days and then we start our trek higher to 35-40
After that we should see a retracement back to the 28-29 area and then price should EXPLODE towards the 70 region
Get ready folks!
M O A S S
Trade closed: target reached
Indicators in agreementNote
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Going LIVE for a bit on my youtube channel. Could be an interesting day, price structure wise
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Looks like GME has found a bottomLets see what type of pullback we get
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Adjusted micro support and added VWAP/VPOC on this move up off the lowNote
On our way!Note
NiceNote
Nice...landed right in the middle of the projected fib pairNote
And thats a wrap!Two words: GET READY
We told you what was coming
Now watch what happens from here
M O A S S
Note
Morning!Casino will be open later
I think we can all see whats happening
Now we wait
M O A S S
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Off to a good startNote
Ok headed to 33 from here then 35-40Note
Session volume profile looking goodNote
And thats a wrap!Not a whole lot to say other than things we told you would happen are coming to pass
33 is next, then 35-40, then 27-29, then 70ish, then 50ish then 100ish
Those are the broad strokes..
M O A S S
Note
These are the MAJOR consolidation zones to be mindful of as price squeezesPrice should extend from one zone to the next
The regions give you solid areas to think about buying/selling/taking profit/adjusting stops
not financial advice of course
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Morning!Casino will be open later
At this point just watching the price action play out
The next 2-4 weeks are going to be memorable :)
M O A S S
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If we break below VWAP then we should head down to support...but the destination higher doesnt changeNote
Take note of the nearby vertical dotted red linesOver the next week you are about to find out why I keep saying they are special
:)
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Nothing to see here folks..just some selling off in alignment with broader market weaknessVWAPS got our back :)
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Clear as day diagonal structureNote
And thats a wrap!Shout out to elliott wave helping us nail support as usual
If you watched our weekend update and last few live streams you would know that I clearly stated this is most likely a diagonal we are dealing with and to expect some overlap and large retracements
This is literally completely by the book as far as price structure is concerned and as is typical of GME was fueled by the broader market weakness
But with that said I want to whisper four words to you that when this is over you will remember for a long time:
Vertical Dotted Red Lines
You are about to find out why I say they are special :)
M O A S S
Note
Note
Morning!Casino will be open later
We are in a good spot for a run higher
Thinking the near term price action follows this path
M O A S S
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Ok everything is looking good on a micro levelVertical dotted red lines are going to continue to show why they are special
We should get moving again this afternoon and continue our trek higher
And best believe higher is where we are headed
Note
Assuming we dont push much lower this is the expected micro path to the first resistance area at 33 regionNote
Ok tweaked things based on that small push lower..time to get movingNote
And thats a wrap!Broad market weakness put a cap on our upward movement today
Hopefully though you took note of the volatility and the way price tried to extend this morning before the selloff
Like we said these vertical dotted red lines are special and without being longwinded as we said in the weekend update price structure will be markedly different on the other side of those red lines
Just wait...
M O A S S
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Clear divergences on the indicatorsNote
Note
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This is the actual micro elliott wave count that i am trackingNote
For clarityNote
Morning!Casino will be open later
As you can see we are tracking a typical-for-gme diagonal coming up off the Dec lows
VWAP ultimately will provide support so lets see how this price action completes over the next couple weeks
M O A S S
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Tweak the count based on the small push lowerNote
Progressing nicelyNote
And thats a wrap!All in all a very good week!
BTW- at the end of day today that was yet again a TEXTBOOK case of someone "banging the close" which is, you guessed it, ILLEGAL
With that said what they did was all for nothing as we are heading SIGNIFICANTLY higher starting NEXT WEEK
Notice the bullish volume that came in after the first vertical dotted red line?
Watch what happens after each one you see on our charts
M O A S S
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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.
Related publications
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.