GameStop Corporation (GME) (January 2022)
Just a reminder this is for my learning, not yours. If I’m wrong, I’m wrong. I don’t want you to base your trades off my ideas because I can still be wrong, but I’m going against the grain and I’m predicting a further continuation of price to drop to at least $61.88, potentially lower. I cannot envision how a drop to $17 would look at this time but I am almost concerned that my 4.236 multiple fibonacci to $16.95 could be achieved if no support is found around my 3.618 fib multiple at $61.88.
I’ve been playing with an Elliott wave triangle idea since a bit before December 10th, 2021, but I didn’t publish anything that wasn’t on private while I considered how best to clean up my ideas. You can see my chart succession below. I have been watching GameStop and AMC for a year now since the last wave of intense hysteria hit the market for the first time.
Previous charts leading up to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Just a reminder this is for my learning, not yours. If I’m wrong, I’m wrong. I don’t want you to base your trades off my ideas because I can still be wrong, but I’m going against the grain and I’m predicting a further continuation of price to drop to at least $61.88, potentially lower. I cannot envision how a drop to $17 would look at this time but I am almost concerned that my 4.236 multiple fibonacci to $16.95 could be achieved if no support is found around my 3.618 fib multiple at $61.88.
I’ve been playing with an Elliott wave triangle idea since a bit before December 10th, 2021, but I didn’t publish anything that wasn’t on private while I considered how best to clean up my ideas. You can see my chart succession below. I have been watching GameStop and AMC for a year now since the last wave of intense hysteria hit the market for the first time.
Previous charts leading up to these conclusions:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
