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Elliott Waves and The GME Cycle, What To Expect Next
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====================================================
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| Author | Source |
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| :-------------: |:-------------:|
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| [u/possibly6](https://www.reddit.com/user/possibly6/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/p2nxcn/elliott_waves_and_the_gme_cycle_what_to_expect/) |
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---
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[DD 👨🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
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Sup Apes.
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Not financial advice in the slightest as I am retarded.
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Elliott Waves guy here with your weekly wave and cycle breakdown, I stumbled upon something pretty interesting that I would like to discuss. Please remember this is all theoretical and I have no fucking clue what is going on, I just analyze trends and look for similarities to try and draft a predictable model. Sorta.
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I try anyway.
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I'm excited for the army of shills this post will attract, so buckle up and let's dive in!
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[](https://preview.redd.it/73bg6a8k2tg71.png?width=1280&format=png&auto=webp&s=790788fcc33297fdf551ca19d27433076a13aec5)
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dummies only
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Here's your banger for this somewhat lengthy post of nonsense: <https://open.spotify.com/track/3OtMnyUaiipcAT23A8liyi?si=4c3f84f59f274221>
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In my [last post ](https://www.reddit.com/r/Superstonk/comments/oxga1k/i_figured_it_out_the_simplest_answer_is_usually/?utm_source=share&utm_medium=web2x&context=3)I talked about the similarities of candle structures and overall daily candles of the up and down periods of previous runs. This picture TLDR basically sums it up:
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[](https://preview.redd.it/78i4k4w8vsg71.png?width=2186&format=png&auto=webp&s=f60e3e26749a9bc8f373cb98ac98c1ad210e98df)
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something something
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Another interesting takeaway was if we look at the weekly candles we can notice similarities of cycles too, pretty clearly honestly.
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[](https://preview.redd.it/zmykqs1nvsg71.png?width=2530&format=png&auto=webp&s=a9885dd51c043dbe37e80aaa1afe3499d639c937)
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something something
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So far, my theory from last week holds true in that the cycle is ramping up again. However, looking at the may-june run, it seems the first week was boring in comparison to the following, as seems to be the case here as well.
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I posted this on my [twitter](https://twitter.com/gavinmayreal) last night as I was up really late just looking for, well, anything really. It seemed promising until it didn't, but a lead is a lead and I followed it.
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"Comparing the previous cycle to now, the daily candles match up nearly perfectly, I have noticed this happen in previous cycles. May-June cycle early days"
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[](https://preview.redd.it/iqd61qccwsg71.png?width=830&format=png&auto=webp&s=6b3520c2d2cd65e3f0087df8e8337a32e3317b38)
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may-june
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I assumed it would follow the same trend as the previous, as the daily candle formations more or less lined up, which theoretically would have made today's price action look like this:
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[](https://preview.redd.it/zcc6b61iwsg71.png?width=1184&format=png&auto=webp&s=0bbc2add9ed0e12554b60d1e5d01fdcd11bab345)
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f
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Obviously that didn't happen, I'm not gonna dwell on why because that's not really the point. I always like to be aware of previous trends to gauge future trends, the mirroring obviously didn't follow through today and we got this candle:
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[](https://preview.redd.it/e8rrk10twsg71.png?width=162&format=png&auto=webp&s=1870c6529f0a77218f17f107b6353d8d45d43fd2)
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doh
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still closed higher than it opened so I guess the similarity is sort of there, though definitely not as strong as I would like it to be to confirm the similarities on a deeper level.
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Anyways, onto the future.
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Intraday wave counts aren't super helpful with GME cause it doesn't exactly act normal as we all know, but this is what I have for anyone interested:
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[](https://preview.redd.it/6o45nb4dxsg71.png?width=1648&format=png&auto=webp&s=b4d888b3b57a931eca358bf792a1e4684c96e187)
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primary
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The alternative being:
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[](https://preview.redd.it/jua9k6dsxsg71.png?width=1930&format=png&auto=webp&s=c84c10c17ec2546e582527ead032303ee80a8078)
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alt
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intraday action doesn't matter at all and both counts are valid and possible. I'm gonna be focusing more on comparing the cycles to each other simply by analyzing candle formations because I don't really think the same fib extensions will be hit, rather the general trend will look similar.
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An argument can me made that yesterday or today's candle formation was an anomaly in the data set as they didn't replicate what happened in previous cycles.
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previous cycle startup:
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[](https://preview.redd.it/ux9nvztnysg71.png?width=614&format=png&auto=webp&s=b12445311f4ad798c69e8794c507e6356d92ebc0)
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m
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current cycle
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[](https://preview.redd.it/xnx87g3qysg71.png?width=444&format=png&auto=webp&s=da78e448d66ab29db7403dd3247fe00dc3a7aaf6)
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m
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Let's just imagine that yesterday was an anomaly in that the candle made a higher high than day 3. Today we formed a doji candle similar to day 4 of the last cycle, except today is day 5.
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[](https://preview.redd.it/0k2e2hmyysg71.png?width=550&format=png&auto=webp&s=771ce3f2f81ea6a0fd8a44f71e7a21fd14d0220e)
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Dojis
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The working theory would be that tomorrow would equate to day 5 of the last cycle, which was a bullish engulfing candle that finished the day up around 20 points. Will that happen tomorrow for sure?
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I have no fucking idea.
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It's just interesting because both cycles formed the same candle pattern, though in this instance the doji is "bullish" instead of "indecisive" (full disclaimer I don't really pay attention to candle patterns when I trade, I couldn't tell you half of the names of candlestick patterns. I just see the similarities)
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Enough of the smaller timeframe stuff, let's zoom about a bit and talk about what I'll really be looking for to confirm we're in for a wild ride, as this has happened the past 2 cycles, nearly identical in nature.
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[](https://preview.redd.it/jq528fb30tg71.png?width=2794&format=png&auto=webp&s=5d4400e375d99755901328d3d76c61c9b99527f1)
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patterns repeat themselves
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Look closely, in TA speak I guess you could say the price "flagged" for a few days before making the next leg up. Happened in February/march, happened in may/june, I bet it happens again in the coming days.
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Basically, watch for a sharp ish (10-20 ish points) price move to the upside followed by some boring stagnation, but holding above current levels of around 160. This would ideally happen in the coming days, if not tomorrow, then some boring sideways shit for the following days.
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almost done, if you read this far I hope you learned something useful. I've learned that it helps me gather my thoughts doing these write-ups and I discover a lot of the anomalies in the moment, simply by doing what most don't. I look. deepfuckingcheers to you.
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Tying it into Elliott Waves, larger targets have not changed since my last post. I hold my 288 first "extreme" upside level on watch which coincides with our earnings gap down. .618 extension of wave 1 (march-june) is the wave 1 of 5 target of our current wave 3. If this level is hit, this signals an extremely bullish move coming our way, not necessarily solidifying a 1.618 extension, but gives us confirmation to watch for it. Assuming it moves normally then the next level from 288 (assuming we bottom at typical .618 level at 200) would give us a target of 431.88.
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THIS IS ASSUMING GME PERFORMS A NORMAL .618 RETRACE, which is a DEEP correction, similar to what we just endured from our June "selloff" but not of the same magnitude, as this is a subwave of that larger degree, if that makes sense.
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ugly visualization assuming it's normal, which honestly I don't expect but lol may as well put it out there:
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[](https://preview.redd.it/3gksa55v1tg71.png?width=1972&format=png&auto=webp&s=5c26155dc995e6b0fcefc5728ac59cafdbde29e0)
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zoooooom
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As always this is simply how I see it, I am excited GME looks to be impulsive again but always expect fuckery and assume I'm wrong. As the trend plays out we can re evaluate and give more precise targets, but this is simply what I see, nothing more.
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Thanks for stopping by!
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hi kenny's interns, make sure to downvote! I know you're all mad about my last post being correct ;)
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TLDR: If the cycle replicates itself the way it has the last 2 times, we can expect a move up of about 10-20 points in the near future, followed by 5 ish days of boring consolidation before really ramping it up. 288 is first major rejection target, but this is all pre squeeze. hodling for 40 milly a share and prison 🚀
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edit: make sure to dislike citadel's new youtube videos! <https://www.youtube.com/channel/UCiHxT7z8QgMzQ1wja3dyUng>
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