All right everyone so um. I want to give you guys my gamestop commentary kind of what i'm looking at on this it's up 11 this morning and we're obviously starting to see some nice momentum picking up on it, and i want to kind of break down the daily chart. More than anything i am holding it at 2, 33, 73 and i'm looking for the breakthrough 235 i'll break down that a little bit more. But let's look at the daily chart first, so on this we have a high based on the daily chart of 483.

Now we know on that day it actually went a bit higher, but regular trading hours. The high was 2 or 483. So what i'm going to do is i'm going to start at the top here. I'm actually going to start in blue and then work my way down all right.

So our high is 483. Then we've got 413. Then we've got 348. Then we've got 295.

Then we've got 277 and then we've got right here, 231. So right now we have a window, a gap on the daily chart formed by this candle up to 277.. So that's a nice window that gives us a pretty decent amount of room if this starts to break out a little bit more, which i think it will, because it's starting to pick up, you could see the volume. Yesterday we had higher volume higher volume than we've had in since mid april.

So what i'm looking at on this on the intraday chart - and we could even switch this from daily to five minute like this. So now you see we're right at this level. 31, 47 and we've got this room here up to 277 and then we've got room to 295 and if you look at the daily chart, let me switch back to the daily on the five. Let's see sorry, the daily we've got this wedge, that's starting to break out, so we've had this period of consolidation through here and now we're starting to pull away so as we break through these levels.

This is where i look for a move up to 240. 245. 250. 260.

270.. I'm not buying options. I just do outright stock. I find it a little easier to manage risk on it's easier to get in easier to get out.

You know that's kind of the way i approach it. You certainly could do options. I know some people are going to do the sort of far out of the money calls and things like that. I think that there's that to me feels a little bit more like a.

It feels a little bit more of a gamble. Um you have the certain likelihood of them expiring, worthless without right stock. You can hold it. You know.

Let's say you bought the outright stock back here in um in march. If you bought options, they might, they might well have expired between march and and today, whereas the stock, you could still be holding it. So you know for the stock perspective. I think it's a little bit easier to manage risk.

You don't have an expiration on when you have to sell, buy, for instance, uh or you know you can just hold for as long as you want. So yesterday's high was 217 and right now we're kind of testing this level of 3172 and forming what is essentially a bull flag of consolidation, which is like what we had here and kind of like what we had here sideways consolidation and then out of that, would Look for the next move up. We have a double top at 2, 35, so for sure, 235 is the spot. We want to see break if we go back to the daily chart.

Actually, this i'm going to delete this this. Actually i draw these at the top of the candle, so it's actually 283 not 277.. So we've got room from 231 up to 283. Then you've got room to 295.

Then you've got room to 348, so these are sort of the levels that i have on watch. Where i think we've got a bit more room, those of you guys on facebook or on youtube that want to learn a little bit more about momentum trading, we'll put a link to my ebook right on the broadcast. So you can check that out. Those of you who want to watch over my shoulder while i'm trading you're, welcome to join the community, become a warrior pro student.

It's important that you know that trading is risky. Most beginner traders lose money, so you should approach trading with the knowledge you have a high likelihood of losing and with that in mind, trading a simulator before you put real money on the line. So this is that descending resistance line that was holding and then pulling away from it. This ascending support line that it's pulling away from now we're going to be looking on this for a move on this pullback up through 235 237 and then maybe 240..

I would like to see a test of 250 today i mean i, i would love love to see this back over 300. I would absolutely love it. It would be such a great sign for momentum. Is that going to happen? I'm not sure, but the chart looks good here, so i'm bullish on it and we still have about 30 minutes to the bell so through the next 30 minutes as it consolidates, along the nine moving average around 230.

We get this pull back and then into the open, we'll see whether or not we do get a little bit of a short squeeze now. One of the other stocks that has been popular is costs. This one had momentum around the same time, but doesn't drive on a catalyst. It's just a sympathy.

Momentum stock and these really kind of usually taper sort of they peter out. So i'm not thinking cost is something that i want to seriously. Watch i'm going to stay focused on gamestop, which i think is the more obvious one. Now the gap scanner today we really don't have much else that to me is more interesting.

I think this could be one of those days where you know you have one stock like gamestop. That draws a lot of attention and that sort of becomes the focus which is fine. I mean it's, maybe not exactly what i prefer. I probably prefer a small cap stock, but you know beggars, can't be choosers in this market.

I'm willing to take what i can get so i hope this uh gme chart analysis is helpful for you guys out there it's a stock that i know a lot of people are very interested in so that's kind of my two cents on it i'll be watching It at the open looking to trade through 235 237. 240.. I'm not sure i don't think we'll get halts on it, but i do think we'll see some nice volatility so watch right there as it curls up. So this is the place where momentum you see the volume coming in right there, so volumes coming in as it breaks that level, so i'm in at 233.73 and my ad spot is over 235 looking to add over 230 450.

now. This may be a little bit early. I was kind of preferring to wait till the bell rang, but if we break over 230 450 i'll add for the break of 235., seeing those spikes of volume is good. The high there was 234, so i'm looking for the break of 234, then 234.50.

That's where i would add for a squeeze up through 235.. If we break through 235, then we're looking for 237. 238, maybe 240. If we see some nice momentum always being mindful to take profit, when you have it, these stocks can be very volatile.

They can pop up, they can drop back down, but this is the type of stock that we've certainly seen. Some big moves out of so as volume starts to come back in here i do like the look. I leave an order at 235 as a limit order. That way, i can press the buy button, for instance right here.

If i wanted to - and i would get filled at the current price - but i won't get filled higher than 235., so look at that, so adding right there for the break of 235 and now looking for 237. So all of a sudden it pops up there's 236. So i'm going to look to i'm going to add there 235 37 adding there for the breakthrough 36, and i want to remember to take a little profit off the table into this type of breakout and then hold a core position for a bigger move. So i'm in at 34 will we get that move all the way to 37..

I now would set my stop at approximately break even taking half off the table there and setting the stop on that side to break even so. This ended up being a nice higher volume break. As we came in right there, high was 236 96 new order goes at 237., so watching over 237 for the next trade and adding right there for the break of 37 and then look for 2, 37, 50 and 38 dips down a little bit 36.50. A bit of a spread 37 on the ask 37 was sort of the target.

We got that 38 to 40 would be nice and i'd like to see 250.. So we've got 36.98 on the ask so sizing down a little bit more. Holding 300 shares 377. My other account now the nice thing with this account here is that if i wanted to flip short, i could i do have shares available to borrow, but i want to be careful about flip-flopping and generally, my bias on this is to the long side so sizing Down for right now will hold a smaller position through this next pullback and then we'll look to add on a dip the high.

This candle is 37.79, so we did get a nice move there. As you guys know, trading is risky and most beginner traders lose money. You certainly shouldn't blindly follow me or anyone else. In fact, what you should do is trade in a simulator until you prove you can be profitable, but for those that want to learn more about my strategy, i'm happy to teach you.

I have a new uh guide day trading uh in 2021. It's a beginner's guide to getting started that i'd love for you guys to check out. So i'm going to keep holding a small position at 3620 and let's go back in here and switch to the 5-minute chart, so you can see as we pull away from this level. What happened was we broke it? We came back and retested it.

It found support and pulled away from it so now up to a high of 37.79. So i put my new order at the top of 37 to 37.79 and i'll just move it up to 38.. That way, i've got a little bit of offset on a dip like this. I'm going to buy right there and i filled at 34.81.

So i buy the dip on this pullback and then over 36 would be an ad so watching over 36.236 for an ad and then a retest of the high. So if it breaks 36, i'm a buyer, i have my hand on the buy button watching so added right there for the break of 36 and now looking for 3650 and 37.. So i start to scale in here the first one minute candle to make a new high is back through 36. So that's a nice looking setup.

So we're going to look for the break of 36 dollars and then 36.50 36.75 and we'll see if we get a retest of 37.. So that was a dip trade buying the dip on the pullback and now looking for the first one minute candle to make a new high. Now it should have held right there. So i size down to 356 shares and i can always add back my cost basis.

There was around 30, actually, i'm not sure what it was 35, something. What it should have done is broken right over 36 right in this area. As it comes back down to the double bottom of 34. I want to be cautious yep, so i'm still holding at 35, 41 356 shares still have 20 minutes to the bow so yeah the way my hotkeys are set up.

I can sell half, i can sell quarter or i can sell full just with the press of a button. So i'll sell the rest for right now, i'm not going to flip short on it because i still think it's bullish and it's right at the support of the 20 moving average. But as we get closer to the bell, i think what might be better is repositioning. The high there previously was 35 it's kind of testing that level.

So this is my current opinion on gamestop, which is just my opinion, but that i do like it and i see more potential in it today if it can break through these levels. What i would want to see - and this is an important thing to note this - is a little bit of a divergence here where that breakout was on lighter volume. What you'd prefer to see is that the breakouts are on higher and higher volume. That indicates that parabolic momentum, that more and more traders are coming into the stock, seeing the potential and wanting to ride that momentum higher when you have a divergence where you have lower volume, that can be a little bit of a problem.

Well, it just indicates that there's a little less interest, so that's where i get a little cautious there. Now, if i switch back to the daily here, you know the daily is not changing, but this candle 218, so we broke through 218 this morning, actually, no that it tapped that level almost very, very close. Yesterday it came up and tapped that level then pulled back. This morning it squeezed up broke through that level broke through the 227 level, then up to 230 150, and then we've still got the room up to 283.

So this is uh in chapter four of the warrior pro classes. I break down these gaps in windows, so this is a window. This is a small window. This is a bigger window and then you're getting into big windows up here as well.

So these are things that we really like to see now what you can do and on a stock like this, what may be worth doing is actually breaking this back into a five minute chart and going way way way back and looking at the price action. The last time it was in this window, so we're gon na have to go back a ways to do that: okay, so um, and just i'm watching this the low there was 33.42 i'll add back at 34.37 with a two dollar a share stop at 32.47. Okay! So all right, so this is where we start to see this price action in here. Okay, so i would say, based on this, that we had some intraday resistance around thirty four fifth uh.

Sorry, two, fifty four! Fifty! If we go back all the way to that day right, so that might be an area that we should watch today if it comes up to 254. 254, perhaps 261., given the how big the window is and given how popular this stock is, i think it's worth Looking a little bit more closely, usually i wouldn't go into the daily chart from you know three two months ago or whatever, but in this case i think it's not a bad. Let's idea, okay and then up to here, that's fine and then the height of that day was the 283 mark yep. So that's fine! Then we go back here.

This is all fine and then we get into this wow man. That was crazy unreal. That was an insane day, never seen something like that before that was pretty wild. I did a bottom bounce on this at 2.

I think it was 2 15 or something like that was that the day maybe it was the other day it might have been the other day. I did that, okay. So then, all this stuff is irrelevant. We're only looking for the stuff, that's up high, so this is lower.

Now we're coming back up high, all right, oops, okay, so there's that 413 spot. These are going to be all-time highs, intraday, but still, okay, so that those are the levels that we're working with right there, a lot of levels, so the orange or the intraday levels, and the the green or the blue are the daily levels. So the areas where we don't have anything is where we would have large gaps or windows large amounts of area with potential, so about 12 minutes to the bell. So the next area that i'll watch on this, oh hang on one.

Second, let me just see who this is all right, i'm back sorry about that! Okay, so um! Yes, we've got 10 minutes to the bell here and first five minute candle to make a new high is 34.50. So, are we gon na see any volume there, or is it going to be kind of like what it did before, where it makes a new high but only kind of perks, up and then kind of go sideways for a second, i don't know we will see What it does piers was another stock that was on the scans this morning. Nice move higher amc, not really sure about that one right now, so again, those streaming the watch list on youtube or facebook. Thank you guys for tuning in.

I wanted to give you my commentary on gamestop. I think this is a certainly an interesting stock and we'll see how much action we get out of it today. I i'm hoping for 250. I would love to see a break of 250 and move up towards 283, which is that daily level that we talked about.

I think that would be phenomenal. It doesn't have especially high short interest, not the way it did before. So i'm not sure that you're going to see a real short squeeze on it, but i think that we are seeing momentum and that's good. I'm happy with momentum, it's kind of a head and shoulders pattern, but with two shoulders.

So it's like shoulder shoulder and then little head and then maybe a shoulder. So it's a little bit of a funny pattern here which is because it broke out, but then it came back below the breakout spot. We only have seven minutes to the bell, so i would say at this point: you can see how it tried to make a first five minute. Candle high didn't quite break so 31.70 3172 i'll put an order at um 232 see if i can do a dip off of the low there nice outside that's great yeah, i mean you could certainly swing trade.

The patterns that i teach and the strategies that i trade ultimately you're - learning a universal language of the financial markets. So i'm going to watch down here i want to dip trade off of 31.70, so i actually put a buy order at 31.68, we'll see if that order fills that would be buying this flat bottom. So you could use these patterns that i trade on stocks. You could use them on cryptocurrency or you could use them on forex.

You can apply them to different markets. Different markets will have their own nuances of the pattern sort of follow through and how long the patterns take or how quick they resolve. But for the most part, you're learning a universal language of the financial markets, so i didn't get any shares filled on that attempt at a dip trade which is kind of a bummer. Let's see and in this account i'm green there - forty six hundred, but we only have five minutes to the bell so watching here so just added long at 31.89 buying that dip off the flat bottom.

So i'm trying to catch this support here around 31.72 for a move back up to 33 34., usually on something like this would set my stop around a dollar, so got ta cut it there, because it's breaking below that support line so gave back. Maybe two grand on that trade, a dip trade-off support when it's. The third attempt has a little bit more risk, but i don't mind giving back a little bit of profit when there's a good risk reward ratio. So the reward on that would have been the move back up to 33 and 34., so we've got about three and a half minutes to the bell bowling weight.

Average price is 228 and i guess the question on this will be. Will we see surges of momentum where, all of a sudden, you know the bell rings and it just starts ripping up three four five dollars a share or where it does a red to green, and does something like that, because this one really gets these bursts of Momentum and those are the times you really want to be in the trade, because that's when you're going to get the biggest moves but they're a little hard to predict and we've got our traditional chart patterns, which certainly help. But even then this one can be a little tricky, so we'll see what it wants to give for continued opportunities when the bell rings. I'll continue trading for students warrior pro students in the chat room.

I might try to do a dip off 228 and then catch a red to green move, but i want to see i want to see that momentum. I want to see that that volume coming in so if we get it, that's awesome. If not, then i'll just have to wait till either later in the day or maybe i'll be. You know come back back at it tomorrow or something like that.

This is one that could give us several days of volatility if it starts to open up a little bit more, and that would be awesome. That would be a great way to finish the month of uh the month of may so um anyways um. That's that's the game plan and uh. I'm gon na keep trading as soon as the bell rings.

Again, thanks for those tuning in on youtube and facebook for the morning watch list and my analysis of gamestop. I hope you enjoyed it as always. In case you didn't already know, trading is risky, most beginner traders lose money. You should trade in a simulator before you put real money on the line you shouldn't try to blindly follow me or anyone else for that matter.

Manage your risk because trading is risky i'll see you guys for the recap around lunchtime.