GME I will be watching for daily Inside bar break high off 618, It would offer a low risk long w stop against low of mother bar (previous candle), aim top of pattern if this set up triggers, take some off at 1-1 and move stop and more off at 1-2 RR per Ib set up rules, (different set up the Hp's)
I prefer to wait for 786& 1.272 ext, this set up lacks solid structure so I would consider .50% to 1% max risk. Always wait for candle confirmation at trigger levels.
Remember the Gartley has 3 triggers, 786 often lines up with 1.272 & does in this case but watch the ABCD/Lightning level as wel, highlighted below the 786 fib.
Tp 1 stop is even always & take some off please, aim 2 & 3 next.
Stop below X, always.. Leave some room imo, always watch for reclaim of pattern with a pin bar.
Let me know if this chart helps your GME analysis, please share your ideas for GME in the comments.
Also with any of my plays, if indices tank the hit rate will plummet, act accordingly please.. No all in:( , trading is a business..
***Gartley's (main) and Cypher's trigger are both 786, so the dual pattern is just to explain I see both here, doesn't add any confluence imo...
@sunmax83, I would definitely be down to a 40% or less here @27$, see how it opens. Closed right on 618 from the last swing high. It can go higher imo, but not being greedy.
sunmax83
⋅
Thanks for your work. HAs D point already reached from last week low on this harmonic.
FrancesMarie
⋅
@sunmax83, Welcome, it got close but it missed my limit order. When trading equity you have to add the spread to the trigger $, & often this widens in pre market and off the opening drive. Hard to watch everything as I mostly trade futures & SPX. Equity I use limits and bracket order's. Good practice if you can not watch it is to use a 3 order entry, lets say entry is 17.50 at 786, limit's would be 18, 17.50 and 17 even. Technically this was still a buy after the pin bar that formed just above trigger level, I failed to execute here. There will be plenty more. There is countless patterns everyday, I try to share the best/safest ones, but its only a fraction of what I trade, I can not share the low time frame ones.
LT1
⋅
Hi, thanks for the info. Nice work, very well explained. Are you on board with the massive hidden, naked shorts on GME theory? I am, but I’m interested in your opinion/ideas .
FrancesMarie
⋅
@LT1, Hi thanks:) I believe in it, I don't pay much attention to it though, there is nothing we can do about it. I just trade patterns I know & trust, that trade in every time frame..
LT1
⋅
@FrancesMarie, appreciate the reply. Have a great weekend! P.S, your graphical presentation is fantastic.