How To Play Elliott Wave Game Game Stop Stock First Update
How To Play Elliott Wave Game
GameStop Stock First Update
This recording is the continuation of the
video titled:
How An Eagle Eyes Wave Trader
Uses 15M Chart Wave Analysis GameStop Stock
• How An Eagle Eyes Wave Trader Uses 15M Cha...
That video can be found on 24Elliottwaves
YouTube channel. By YouTube searching it,
one will find it. It is important that one check
it out before watching this video. That will
help one to understand what I am about to share.
Please go ahead.
In the previous video, it looks like GameStop stock
has completed a flat correction on the 15M chart.
That was the main reason why the professional wave
traders did not hesitate to sell it from its peak of $347.50
down into the pit of $40.50 where I bought it for a fast profit.
Obviously, it was right that professionals did sell it.
Really, it was not a market manipulation, and one
should not completely blame Wall Street in that instance.
Wave Structures
If what I labelled on the 15M chart first wave ends up being
an X-wave then the correction is not completely done and
dusted. Anything is still possible.
So please fasten
your Elliott wave belt, and take defensive measures
without blinking. Keep eyes on the price-action and
flow with it one step at a time.
Financials Price Targets
Financially, the pandemic has really boosted GME stock,
and the future looks good for it because of the way the world
will be doing business in the future. Consequently, as long
as GameStop keeps boosting its revenue, Elliott wave traders
must wait for the confirmation of the wave patterns in view
to time the markets profitably and precisely.
I mean using a top-down trading method in conjunction
with the wave trading setups without violating the trading
triangle.
The trading triangle is about trading first the market SP 500
then sector before the financial instrument itself.
Talking about the financials price targets, GameStop stock
has already surpassed the targets at
1/ $18.19
2/ $20.07
3/ $33.45
4/ $66.90 and
5/ $166.09.
Recently, the price came close to the future price target
at $363.34 as it peaked at $347.50.
Please hold your nose for the next long term greediest
price target at $2925. Obviously, that is unbelievable today
as it was for Amazon stocks ten years ago.
Well, do not bet on it too quickly because nothing is guaranteed in
these messy and slippery financial markets. Just note it down
with a smile without assuming anything because that is a very
ambitious price target that all long term and patient investors
are dreaming about.
The question today is has GameStop
got what it takes to fly high like that eagle bullish
Amazon stock? Only the future will tell if I was drunk or
mad to forecast such a crazy price target today.
Please do not take my words for it because this video is
for educational purposes only. Please do not use this video
as a good excuse to buy and hold GameStop stock.
Please do our own due diligence.
WARNING
GameStop stock is a very popular financial instrument
with high bullish expectations, but one must always be ready
to cope with the risk too.
Alright, that is it. This was about how to play Elliott wave game
GameStop stock.
Please smash the dislike button if this is another waste of time
recording.
Please put a big smile on the face of YouTube algorithm by
sharing and liking it. I will really appreciate that.
All in all, the action is still taking place on that 15M chart
for now, but soon it will move to the hourly chart then daily
chart before the bigger picture is revealed on the monthly
chart.
Surely, the eagle-eye wave analysts will be using the fractal
patterns of the wave structures on that 15M chart to predict
the bigger picture that is hidden beneath the 15M chart.
In due course, I will be back to review
the enigmatic GameStop stock if there
is something new to share. So please do not bash me
yet, but take it one step at a time without going full Monty.
Please stay tuned because I post regularly. Subscribe and
hit the notifications bell today.
I wish you the very best in your trading and investing.
For those of you who do not have a deep pocket, remember
that one can use a fractional trading broker to buy a piece of
GameStop stock after doing the due diligence of course.
Full Disclosure
I have recently made few hundreds of Dollars very fast with
this stock, but I am now sitting on the fence until another
entry door is opened for me at the right price.
Happy Trading And Investing
HTTPS://WWW.24ELLIOTTWAVES.COM
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