GME CRAZE ! YOU IN OR OUT ???

5 ביוני

Traders! People! Home Gamers! What ever you want to call yourself, let's have a little excitement with trading and talk a little about YES, GME.

You can't be a trader of any kind and ignore this craze. Meaning, you can't help but have some kind of interest in watching all this unfold. Whether you believe any of it or feel it's all a put up hoax in the world of Wall St, let's just enjoy the entertainment for what it is.

Let's pull up some charts and look this thing straight in the eye and decide if you are willing to take on a possible money opp or not.

We broke out of a resistance area on the 15min chart.
There is a big supply area starting from 41.67 to 56.75. With that said, is it not a long trade here? Sure looks like it. Ok, where should a trader get nervous after being long?
I would start to really watch my 15min chart for any kind of selling pressure starting around 41.67 area. Big zone stretch up to 56.75. If price were to break out past that then that's a story for another day. Let's first get to these areas and we can have another talk at that point, in the meantime please trade with caution if you choose to venture into this stonk and remember June 24 is earnings report.

Best of luck in all your trades and remember to trail a stop with the sar or 10ma or both.

Cheers to: "I just like the stock". Meow.

6 ביוני

הערה

Fun times eh? BANG BANG bang! Got some money today didn'tcha! Well, if you jumped in this morning or a few days ago anyway.

First area of interest was easily hit today. Now that 41.67 was tagged we need to pay attention to what happens at 48.75 and 49.44 areas. When price is at these areas we should zoom into our 3min, 5min, 15min charts and make sure no quick wool gets pulled over our eyes. Stops in place below a 10 sma on the 15min chart works just fine if something goes against the position. If deep in profits you can leave a percentage on the table for more possible upside like 25% 30% 50%. What ever works for your risk. Use the 1hr TF 10sma as a line in the sand at that point. This ensures locking down profits and not gambling them away.

I would like to see price clear 56.75 area before betting on seeing 80. Remember, we take one step at a time. Don't let the euphoria of seeing your account jump to the moon distract you from what is happening on the charts. Concentration is a must at this point. Lot's of hype going on now with this so let's have some fun with this entertainment while at the same time not getting distracted by the show. As much as this is fun it's also to not be trusted, meaning ; A market is by design to take money from anyone or institution. Always always be cautious when playing with the big dogs in the world's biggest casino.

See you all at the Live tomorrow. Best of luck in all your trades... Cheers!

8 ביוני

הערה

Good day - evening traders! Hope no one got hurt and you all did well if you decided to partake in this crazy market.
If you followed a strict trading plan with a good exit strategy you should have pocketed some $$$. As I stated above, if even you stayed in until the 1hr chart's 10sma got taken out you would still be safe from hurt or at least survive to trade another day.

Lot's of chart damage so far in this stock and it's looking bearish to me. If price can stay above 24.75 area then maybe it stands a chance at another rally up but if she slips below, it would likely be a stop for the game for now.
You don't want to get trapped into this as an investment of any kind. We treat this as a trade opportunity only and when the chart looks like a good trade setup.

Until next time my fellow traders! Trade safe, trade smart, trade like a robot and obey your exit rules at all times. Even if the price turns around to continue into another leg higher in what ever you are trading, remember you can always re enter but only if it's in a strong trend.

Peace out People.