ARESABI

[WSB] How to trade the GameStop Short Squeeze!

Long
NYSE:GME   GAMESTOP CORPORATION
r/wallstreetbets recently picked up the GameStop Stock ( GME ). Why? Because we basically have free money sitting here.
GameStop struggled with keeping up with the growing digital gaming market and the price plummeted.
With a strong focus on E-commerce, a strong brand with over 55 million PowerUp members and a solid team (Source: r/wallstreetbets "GME FULL STORY),
we will most likely see further growth in the company in terms of revenue and stock price.

I made this chart to verify important levels and an in depth trading-plan to reduce the risk as much as possible.
Everything relevant is on the chart. The Cup & Handle Pattern is one of the easiest patterns to trade and extremly powerfull to extend
a strong uptrend - which is highlighted by the Ascending Parallel Channel .
Please make sure to place a Stop-Loss order and place your buy after the confirmation with a Breakout-Candle.

Let me know if there are any questions and feel free to discuss in the comment section.

cheers
Comment: I will update this idea when my trade is active
Trade active
Comment: Doing well!
Trade closed: target reached: I took my final profit at ~$150
Comment: Elon Musk tweeted about GameStop and we might see some crazy movements througout this week! Be careful!
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Comments

Tendie$
+4 Reply
This aged well. Haha
+2 Reply
ARESABI vectors2
@vectors2, lmao indeed! updating this one tomorrow
Reply
It formed two cups and handles before breaking out. Curious what's your entry point?
+1 Reply
@rkrv, exactly bro. Very interesting observation. My entry is slightly below $16 mate. How about you?
Reply
rkrv ARESABI
@ARESABI, thanks bud. I got in multiple times, the first one was at $13, then I saw WSB hyping it up in Nov and I got out at 18 during that pump. Waited until things cooled down and got in at multiple times averaging up until slightly below $17. Took out my initial investment yesterday and will let the profits ride as I think we're not nearly done with Ryan C. taking the helm. Really excited about this trade. I am still fairly new to trading and your charts give a ton of great insights - thank you for that 🙏
Reply
@rkrv, you did everything right! congrats and thank you for your feedback. I'll update the GME chart today :-)
+1 Reply
To me, it looks like Michael Burry (the actual person who was portrayed in "The Big Short") and Ryan Cohen, the founder and potential buyer of GME in its entirety, could make this significantly more interesting soon.
+1 Reply
Thank you... I agree. I'm 60% in now.
+1 Reply
culverv culverv
@culverv, waiting for your signal on the other 40%...
+1 Reply
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