At the end of August 2020, I saw that the GME price touched its historical low (the lower red horizontal line). At the same time, the "Diamond" reversal model was formed.
The breakout of the" Diamond " up on 31/Aug/2020 confirmed the reversal from the downtrend to the uptrend.
Next, I used the old-school tactic of "Measured movement" according to D. Schwager - according to which each new wave of growth is equal to or slightly greater than the previous one. And each new wave of falling is equal to or slightly less than the previous one. And this "Measured Movement" clearly bounced off the support line of the new trend (the purple line).
This allowed me to surf both long and short until mid-January 2021. Then the growth became threatening, I closed GME and took a profit of about +500%.
The breakout of the" Diamond " up on 31/Aug/2020 confirmed the reversal from the downtrend to the uptrend.
Next, I used the old-school tactic of "Measured movement" according to D. Schwager - according to which each new wave of growth is equal to or slightly greater than the previous one. And each new wave of falling is equal to or slightly less than the previous one. And this "Measured Movement" clearly bounced off the support line of the new trend (the purple line).
This allowed me to surf both long and short until mid-January 2021. Then the growth became threatening, I closed GME and took a profit of about +500%.
Trade stängt: målet nått:
+500%.
