Weekly- RangeFrom 2021 to present consistent creation of lower highs between prices, 120.75-87.13, 67.20-64.50, and 41.25-49.85. Since the beginning of the year price has fail to break support at 19.40-24.50. In short price has failed to create new highs and lower lows, game stop is consolidated.
Thesis- Potential for sell break out due to flat support and lower highs on the weekly. Consecutive lower highs provide strength to break the flat support.
Daily- From May 2022 to Aug 2022 price correction provided buy opportunities to previous weekly highs between 41.25-49.85, clearing weekly liquidity, adding new life to the sell.
Current price 30.71 is an area of structure and daily buy liquidity. would like to price go bull to 40.40 before continuing to go bearish. This will create another lower high on the daily, to add strength to the overall sell breakout on the weekly.
Areas of Interest:
Short - 40.40 to 45.53, 34.30-35.90,30.71, 25.60-26.86, 21.68-23.20
Long- 30.71, 25.60-26.86, 21.68-23.20
Confirmations: solid candle closure, preferably 8and daily candle closes within zone.
Thesis- Potential for sell break out due to flat support and lower highs on the weekly. Consecutive lower highs provide strength to break the flat support.
Daily- From May 2022 to Aug 2022 price correction provided buy opportunities to previous weekly highs between 41.25-49.85, clearing weekly liquidity, adding new life to the sell.
Current price 30.71 is an area of structure and daily buy liquidity. would like to price go bull to 40.40 before continuing to go bearish. This will create another lower high on the daily, to add strength to the overall sell breakout on the weekly.
Areas of Interest:
Short - 40.40 to 45.53, 34.30-35.90,30.71, 25.60-26.86, 21.68-23.20
Long- 30.71, 25.60-26.86, 21.68-23.20
Confirmations: solid candle closure, preferably 8and daily candle closes within zone.