Why $10,000 per share is just a stop along the way...
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| Author       | Source       | 
| :-------------: |:-------------:|
| [u/ChristianRauchenwald](https://www.reddit.com/user/ChristianRauchenwald/)| [Reddit](https://www.reddit.com/r/GME/comments/m6cebh/why_10000_per_share_is_just_a_stop_along_the_way/) | 

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[DD](https://www.reddit.com/r/GME/search?q=flair_name%3A%22DD%22&restrict_sr=1)

EDIT #11 & 12: New post at <https://www.reddit.com/r/GME/comments/md4emt/elliott_waves_gme_part_2/> ~~and YouTube live 30 minutes before market open on my channel at~~ [~~https://www.youtube.com/channel/UCsc1gAr0t2ME4nzu4PCAnow~~](https://www.youtube.com/channel/UCsc1gAr0t2ME4nzu4PCAnow) ~~(we'll do real-time wave predictions on lower time-frames).~~ Latest Elliott Wave Predictions as of Friday 26th in the recording at <https://youtu.be/8FcqC6lx3Ec>

EDIT #9 & #10: ~~Going Live Today (24th of March) before market open to~~ Answers to many questions and update my prediction 👉 <https://youtu.be/SsfhQrK4ZmM>

EDIT #5 (others at the bottom): Thanks for the awards, but unless they are free use your money to invest in a stock you like. I like GME. 💎 🙌

Let me start by stating the obvious:

This entire post reflects my personal opinion and is in no way financial advice. And for full transparency I also want you to know that I'm holding shares in GME and would financially benefit from any increase in price.

Elliot Wave Theory

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/ckvxxf66men61.png?width=1833&format=png&auto=webp&s=8f838585bedafa3b10e01afd0ad5799a9e33f85e)](https://preview.redd.it/ckvxxf66men61.png?width=1833&format=png&auto=webp&s=8f838585bedafa3b10e01afd0ad5799a9e33f85e)

Elliot Waves for GME - What that means, further below...

I know most of you likely never heard the name *Ralph Nelson Elliott* and his surprisingly called "*Elliot Wave Theory*". If you want to change that, I recommend you read the free book [here](https://www.elliottwave.com/Free-Reports/Elliott-Wave-Principle). But since I know that most of you are too busy eating crayons I'm going to summarise it quickly.

[](https://preview.redd.it/82b95bynpen61.gif?format=mp4&s=d9ed382408b797e0eecf0136fd0dd4e983c1b298)

A rare recording of Ralph Nelson Elliot's early days.

As you can see, our fellow 🦍 Ralph already had a real hunger for tendies as a little kid. That hunger drove him to use his crayons on charts until he discovered in the 1930s that the stock market always moves in recognizable patterns back, so-called "waves".Simplified there are only two types of waves:

1.  Impulse

2.  Corrective

Impulsive Waves

Those are always waves that move the market and consist of five sub-waves because five is the smallest number of waves that can accomplish an overall movement.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/h9jkzo3qnen61.png?width=535&format=png&auto=webp&s=3377a44f22eb8fc0c0302c0051528dbe7d40e359)](https://preview.redd.it/h9jkzo3qnen61.png?width=535&format=png&auto=webp&s=3377a44f22eb8fc0c0302c0051528dbe7d40e359)

Impulsive Wave on GME Weekly Chart

Corrective Waves

Although there are a few different corrective patterns we can say in general that they consist of three waves because that's the smallest number needed to achieve a retracement.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/d5ry6vxloen61.png?width=382&format=png&auto=webp&s=d4f4345f6bc553b8c20d4fc22b551bf73fb825d5)](https://preview.redd.it/d5ry6vxloen61.png?width=382&format=png&auto=webp&s=d4f4345f6bc553b8c20d4fc22b551bf73fb825d5)

Corrective Wave on GME Daily Chart

*There are a few special cases, and obviously overall more to learn about it, otherwise, there would hardly be an entire book about it.*

Before we now take our colorful crayons and applied that mindblowing knowledge on GME there are a few other things you should understand:

1.  Each wave can and should contain waves in itself. 🤯 I know... Sounds complicated, and often is, but to give you a simple example, in the 1-2-3-4-5 Impulsive wave above, you'd be able - possibly not on the monthly chart but on weekly or lower - to also fit another 1-2-3-4-5 between 2 and 4.This way you can confirm if your patterns are actually valid.

2.  Each 1-2-3-4-5 Impulsive wave is followed by a corrective wave. So, after 1-2-3-4-5, we see a corrective pattern like A-B-C. *(There are a few other corrective patterns but the basic A-B-C zig-zag is most common).*

So you are telling me that fellow 🦍 Ralph knew how to predict the market almost 100 years ago? Sure...

Elliot Waves are highly accurate and in my opinion a great tool to predict what the market or a specific stock is going to do.

Unlike most indicators it doesn't lack behind, however, there are still cases where multiple patterns could be applied and only once a few more candles are on the chart will it be clear which of those actually is correct.

Already during our first 🚀 launch attempt that got canceled by RobinHood and others, I used Elliot Waves to estimate how far that rocket might go.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/ls6yg89ksen61.png?width=1544&format=png&auto=webp&s=02df84510f42b367541792896e09ba836e92c9a7)](https://preview.redd.it/ls6yg89ksen61.png?width=1544&format=png&auto=webp&s=02df84510f42b367541792896e09ba836e92c9a7)

Screenshot using Elliot Waves on the GME 15 min chart on the 25th of January

I shared that screenshot initially [here](https://www.reddit.com/r/wallstreetbets/comments/l4syrd/gme_megathread_part_2/gkqko9z/) and mentioned in a further reply once we reached that range that a drop in the range of $137-$207 will likely follow before our 🚀 finally will launch to more than $4,000 per share.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/j7tjz2dqten61.png?width=1552&format=png&auto=webp&s=0c100b502fe38eb3ec9c1082cad758f4fbfc09b7)](https://preview.redd.it/j7tjz2dqten61.png?width=1552&format=png&auto=webp&s=0c100b502fe38eb3ec9c1082cad758f4fbfc09b7)

What actually happened after that "prediction"?

As you can see both statements were highly accurate and IMHO only because of buying restrictions did the drop go further than it should have and our 🚀 take-off was canceled.

If you can follow so far that's great... if not, I really recommend that you use the time while we wait for take-off to read the book about Elliot Waves.

OK, but how come that $10,000 per share is now just a stop along the way?

Well, by preventing the launch back then HFs fucked up IMHO and now more people are buying tickets for their trip into space. After all, Elliot Waves are in simple terms nothing else but the manifestation of human behavior on the market.

However, the beyond average manipulation (preventing buy orders altogether) also makes it harder to say with absolute certainty that the following pattern is accurate, but since they anyway only reflect my opinion I'm still going to share them.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/siqakz1even61.png?width=1782&format=png&auto=webp&s=45d7c5d21886747740e29cafe72c0b0364f52785)](https://preview.redd.it/siqakz1even61.png?width=1782&format=png&auto=webp&s=45d7c5d21886747740e29cafe72c0b0364f52785)

Using my new crayons on GME hourly chart.

The way it looks right now we are currently in a corrective wave 2 (see 0-1) that is developing as an A-B-C pattern. Both of those aspects show a correction into the current range, although we haven't reached the predicted range for C in the A-B-C pattern (and maybe won't, but I wouldn't be surprised if the price falls into the range of $131-$161 to confirm both predictions and possibly also close the gap that's still open from the 5th to the 8th of March at $140.50).This would mean that we are likely at the end of wave #2 within a 1-2-3-4-5 Impulse.

[![r/GME - Why $10,000 per share is just a stop along the way...](https://preview.redd.it/tnm459b4wen61.png?width=1854&format=png&auto=webp&s=69cec8c0ff7a0d85a407b27ba1adab1a1a1694ce)](https://preview.redd.it/tnm459b4wen61.png?width=1854&format=png&auto=webp&s=69cec8c0ff7a0d85a407b27ba1adab1a1a1694ce)

🚀 Pre-Launch

Now, the projection for the following wave 3-4-5 looks like this and already gets us into the range of $10,231 to $13,382 - at which point we'd see a corrective pattern (A-B-C), which IMHO is very likely since a few 📄 🙌 bitches would likely sell their shares at that price and HFs obv. will also try to create a drop at a price point like this to make it appear as if the MOASS is already over.

However, as mentioned earlier, each wave consists of waves, so the 1-2-3-4-5 Impulse you can see in the image above is actually just wave #3 in the bigger 1-2-3-4-5 Impuls that began during the all-time low of GME. Confirming the highlighted pattern, and also confirming that we are likely going to see a correction/retracement/sell-off at that level. And that Corrective pattern would be wave #4 in the bigger Impulse, and after that, we will see our 🚀 fly. It's hard to say how far right now, but personally I expect to see $130k per share, possibly more.

Now, as said, all of that is just my opinion and not financial advice.

TL;DR IMHO GME will go short-term to around $2,000 at which point we'll see a small retracement and then we'll move to our pre-launch stage at $10,000 per share, followed by a drop to as little as $7,000 per share, followed by the 🚀 take-off to $100,000 or more per share. I learned all of that from a very old ape called Ralph Nelson Elliot that used his crayons in interesting ways.

EDIT #1: I started learning the Elliot Wave Theory last year. Two predictions I published last year based on Elliot Waves were the [A-B-C correction in TWLO in October](https://www.tradingview.com/chart/TWLO/JJ2castF-Twilio/) (although my floor for C was a little too low) and wave [3-4-5 for TSLA and the $2,000+ price target in July](https://www.tradingview.com/chart/TSLA/iTTc7EjH-Tesla-Going-for-2-000/) (unfortunately, the stock split ruins the replay, but you can check the chart for yourself to see how accurate my predictions were)

EDIT #2: Since some of you are asking if all of that even applies during a squeeze I looked for a chart of a recent short squeeze and if you take a look at <https://prnt.sc/10neu61> you'll see that the TSLA squeeze in 2019 also follows the 1-2-3-4-5 Impulse wave pattern.

EDIT #3: In addition to "EDIT #2" to prove another point, take a look at <https://prnt.sc/10nezpr> and you'll notice that wave #3 of the TSLA squeeze by itself is another 1-2-3-4-5 Impulse wave.

EDIT #4: <https://prnt.sc/10nh43c> shows the weekly GME chart with Elliot Waves from the low last year until now and also indicates that we are currently in wave #3 that will take us to $9,193 - $10,805 followed by wave #4 (short drop not visible in the screenshot) and our final take-off with wave #5 (also not in the screenshot).

EDIT #6 (#5 is at the top): Here are a few things I personally won't do:

1.  I won't try to trade those waves, but simply HOLD because I don't want to risk missing the take-off because those price levels aren't set in stone or guaranteed.

2.  I won't sell on the way up but wait for the top and sell on the way down. Because the price could go way higher than predicted and I rather sell at 80% of the top on the way down than selling at $100k per share [just to see the top at $1,000,000 or higher](https://prnt.sc/10ni1ei).

3.  I won't invest money that I can't afford to lose.

EDIT #7: Updated link in Edit #6 to include wave #5 prediction on GME weekly chart. Although, I want to point out that I rely on the hourly chart and use higher and/or lower timeframes only for confirmation.

EDIT #8: I've uploaded a new video to my latest YouTube channel and in it starting at 10:31 I show how I apply Elliott Waves to GME. <https://www.youtube.com/watch?v=fjOUxNuzw3E&t=631s>
