Reason I trimmed my position near 240$. watching the 1 min chart it seemed like the market had a hard time bringing this over its 50% retracement level, what I am looking for now is a support bounce off of the 38% retracement level at the price point of 211$. if it fills that gap and shows at least a solid daily green candle above that price, I would most likely re enter the trade, as well as give myself exposure to a smaller options position because of how these premiums move. I think that AMC is leading the herd right now with all the other "meme stocks" following its path, such as BB and NOK. If AMC continues to rise, I think GME will follow. Again, look for the gap fill at $211 and a reversal off the Fibonacci channel. I support all of you WSB apes, but I also need to manage my own risk and take profits where its necessary, call me paper hands but a man needs to pay off his student loans. I will post updates about where I see this going and will update continuously over the coming weeks.
When I update about my positions and previous ideas i've posted, they are in no way shape or form to promote either bearish or bullish views, but to rather give everyone an idea of what to expect based on my own analysis, as unbiased as I can. If you are looking for confirmation bias this is not the place to find it, I just look at the charts and do my own DD. GLTA
When I update about my positions and previous ideas i've posted, they are in no way shape or form to promote either bearish or bullish views, but to rather give everyone an idea of what to expect based on my own analysis, as unbiased as I can. If you are looking for confirmation bias this is not the place to find it, I just look at the charts and do my own DD. GLTA