The TT $GME Bearish Trade

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What was the GME Trade?

Bearish trade – Looking for entry when it breaks below $12.20. Stop $12.45. Target $10.70

Who is GME?

GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites, including www.gamestop.com, www.ebgames.com.au, and www.micromania.fr.

The company has two main business segments: Video game brands and Technology brands. The technology brands segment sells wireless products and services and operates Spring Mobile managed AT&T and Cricket Wireless branded stores, along with the Simply Mac business.

You can see the following on the chart below:

  1. The green line shows the target entry for the trade.
  2. The red line shows the target exit for the trade.
  3. This was a swing trade.

If your interested in reading more article about what Transparent Traders has to offer to check out these below:

  1. How does the Transparent Traders Platform+ Work —> Read More Here
  2. TT Tradingview Breakout Script for Day Trades and Swing Trades —> Read More Here
  3. How to find a target price for stocks —> Read More Here
  4. The Key Stock Market Terms Every Trader Should Know / Understand – Read More Here

For all of you wanting to know how I decide to enter and exit my trades, I have listed those key points below:

  • I have created a watchlist of the tickers I like to trade the most. Download my watchlist right “HERE”
  • I review that watchlist against the alerts from the TT Blackbox each 5-minute interval.
  • I focus on the $VIX. This measures volatility in the market. If volatility is moving up, the market is moving down, and vise versa. This simply means I start here and does not mean I will not trade against the market.  However, I do not recommend that for the novice trader.
  • Once I know the direction of the market, I start to focus on the tickers moving in that direction.
  • Once these tickers alert on the TT Blackbox, I typically wait till the closure of the next 5-minute candle and I enter.
  • I then immediately set a limit sell order for 5%.  Keep in mind I am trading shares in the price range of $30-$400 tickers so 5% is big money.
  • I exit my trades based on two points.  One, being the TT Blackbox stops alerting or alerts in the opposite direction, and two being my 5% target has been met.

Here is a screenshot of the tickers I watch daily:

This list is a starting point for those that, might think I only look at these…

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