$GME a not completely insane attempt at short chart analysis
It seems to be falling at a just about perfect sqrt(2) ratio and respects the phi and other levels quite well from the top there, minus extended
It's very symmetrical and obvious when one looks at more than a minute chart
Resistance now strong and made up of the folks who set up longs before the gap at the start.
Support at this level was nonexistent for that reason too.
Current resistance (or support if permabull i guess....) is based on the last level of $42 buyers (I was in that region around $38) who set positions on the 13th-21st.
Once that 42 zone is breached it will be R rated
40, 35, 30, and 20 are all levels it will necessarily stop at should it continue its downwards freefall. Should be close prices or very strong resistance
It fits my re-structuerd fib levels really well and these continue to surprise me with how accurate they can be as an offset to the typical values, so it gives a more realistic true range
disclosure: I have 48 strike puts and want to get rid of this, sold midway up having bought @ $45 for my long, made more on amc options tho
fib restructure is just adding 1.4142 in place of 1.382, and a few more rounded off values, given bots love whole numbers, especially superprimes
going to look at the whole picture next and see if it fits well going up and not just down
Note: Red is heat, blue is cold. my chart is entropy so it heats up to do stuff and cools down when not impulsed
It's very symmetrical and obvious when one looks at more than a minute chart
Resistance now strong and made up of the folks who set up longs before the gap at the start.
Support at this level was nonexistent for that reason too.
Current resistance (or support if permabull i guess....) is based on the last level of $42 buyers (I was in that region around $38) who set positions on the 13th-21st.
Once that 42 zone is breached it will be R rated
40, 35, 30, and 20 are all levels it will necessarily stop at should it continue its downwards freefall. Should be close prices or very strong resistance
It fits my re-structuerd fib levels really well and these continue to surprise me with how accurate they can be as an offset to the typical values, so it gives a more realistic true range
disclosure: I have 48 strike puts and want to get rid of this, sold midway up having bought @ $45 for my long, made more on amc options tho
fib restructure is just adding 1.4142 in place of 1.382, and a few more rounded off values, given bots love whole numbers, especially superprimes
going to look at the whole picture next and see if it fits well going up and not just down
Note: Red is heat, blue is cold. my chart is entropy so it heats up to do stuff and cools down when not impulsed
Trade active:
yes, it tried to tap the level above it but collapsed again. so it fits well within parameters
Trade closed: stop reached:
SPY dropping instigated its volatility correlation, dropped my puts, grabbed spy calls, made back the money, then grabbed pltr calls. im done with this awful ticker