Monthly - Bullish engulfing off monthly support. weekly -pinbar/reversal candle. showing exhaustion Daily - broke 8ema shooting star formation off support. 4HR -bounced off 50% fib level. awaiting price to break and close over CTL 1st target on break of this CTL 0.76200 2nd target 0.7700
A detailed description of scenario 1 (long breakout) To the left we have a former balance area , ie price was in equibilirium with a unfair high @1018ish and an unfair low @072ish , wich gives us a former fair value of @0869ish as we are recently trading/testing @ that former fair value , one might expect a rejection of that level , which can be seen as...
pretty much covered every possible and playable scenario on EU H1 , just observe price and which scenario plays out, plan the trades and trade the plan ;)
GAME expected to gap to 6.91 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
I'll be shorting into the level below to go long, then see what happens at the top level to short. Simple plan with well defined levels to trade against.
Fundamentally this company is looking quite grim. As an avid gamer, i know (as do most) the future is digital downloads. There is no reason for a company like this to be the "middle man". As much as I like owning a physical copy of the games, I'm a minority. Most people are lazy and want gaming on demand. Its like vinyl records. Gamestop is quite reminiscent of...