Hello everyone, while i was going though my previous analysis, i've made a very interesting discovery on the GMEUSD Chart.
We are looking at the previous month on the 15m chart with a momentum indicator (MACD), Moving Averages (50 & 100), Volume and the relative strength index (RSI). Every price tends to move in patterns, even if the market behaves irrationally (like in this case).
We see heavy spikes and high volatility in between the trading session - nontheless we can see an uptrend playing out.
Please keep in mind that this stock was worth ~$5 during 2020. The current price level is supported by media coverage, reddit and many other "retail investor" plattforms.
From a technical point of view, the price is currently moving above the Moving Averages with a Golden Cross playing out. The last time we saw this scenario was one month ago. Please have a look at the similiarities in the price action.
Buyers and sellers are pushing the price within a symmetrical triangle (lower highs, higher lows). The accumulation previously took an end at the end of the month and on a friday.
We finally saw the price breaking out of this patterns on a monday, with the price opening ~$15 above the closing price on friday.
That's where buyers join the market and the volume is increasing. We saw the price peaking at ~$350, followed by the sideways movement we are currently in.
While the price is moving below the resistance, we can see another accumulation happening with exactly the same patterns as in march.
According to my trading idea, we will see an open price above the ~$190 level at the beginning of the upcoming trading week.
I will definitely have an eye on this.
Please let me know what you think about this idea and feel free to check out my previous GME analysis below
![[WSB] How To Trade The Actual GME Short-Squeeze #2](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
We are looking at the previous month on the 15m chart with a momentum indicator (MACD), Moving Averages (50 & 100), Volume and the relative strength index (RSI). Every price tends to move in patterns, even if the market behaves irrationally (like in this case).
We see heavy spikes and high volatility in between the trading session - nontheless we can see an uptrend playing out.
Please keep in mind that this stock was worth ~$5 during 2020. The current price level is supported by media coverage, reddit and many other "retail investor" plattforms.
From a technical point of view, the price is currently moving above the Moving Averages with a Golden Cross playing out. The last time we saw this scenario was one month ago. Please have a look at the similiarities in the price action.
Buyers and sellers are pushing the price within a symmetrical triangle (lower highs, higher lows). The accumulation previously took an end at the end of the month and on a friday.
We finally saw the price breaking out of this patterns on a monday, with the price opening ~$15 above the closing price on friday.
That's where buyers join the market and the volume is increasing. We saw the price peaking at ~$350, followed by the sideways movement we are currently in.
While the price is moving below the resistance, we can see another accumulation happening with exactly the same patterns as in march.
According to my trading idea, we will see an open price above the ~$190 level at the beginning of the upcoming trading week.
I will definitely have an eye on this.
Please let me know what you think about this idea and feel free to check out my previous GME analysis below
![[WSB] How To Trade The Actual GME Short-Squeeze #2](https://s3.tradingview.com/w/wzdAwlYr_big.png)
![[WSB] How to trade the GameStop Short Squeeze!](https://s3.tradingview.com/z/Zd8yDVWi_big.png)