Earnings disaster for GameStop!!! But is it a buy the dip moment tomorrow?!? $GME

[Music] hello everyone I hope you guys are having a wonderful day and are making some really good trades now let's dive in into some gme GameStop analysis very unfortunate as you guys probably can tell let's get into the after or sorry the extended trading hours you can see GameStop has dropped quite a bit here uh since it's uh earnings report and you know we got a little bit of a bounce here but uh now what I would classify this as is no longer a one 1212 setup and yeah full disclosure I'm still holding my options from the lows here they're going to lose a lot of value tomorrow if we gap down and especially if the markets continue you know to trade down in the after hours uh you could see the USD JPY trade is definitely suffering at the moment so whoever is uh you know in in in Japanese dollars is winning and the whoever is holding US dollars is losing and that's putting this is putting pressure on us equities at the moment but anyways let me let me get back to what's going on for uh uh J GameStop here so am I still bullly bullish yeah I'm still bullish because for you to invalidate this pattern you need to come back down and stop uh stop this you know you need to cross this pivot you need to invalidate this Wave 2 setup here so you got a one 1212 setup on a larger time frame someone asked me to eliminate some of the uh regular some of the lines here I I think they're talking about the smaller time frames like this right or these ones that I have on the side um but uh because he said they were useless again if you know Elliot wave you know that these larger ones are not useless they're actually quite useful and you don't want to get rid of them and I mean in the medium term this one's invalidated because you're going to gap down tomorrow so what could this be right for you to invalidate this setup then you need to break this low so this two is going to extend tomorrow and what this is now now we know that this is no longer a 1212 it's going to be a flat right and flats are very difficult to to to notice because they they always set tend to play up like this so you make a new high and then you rip it down in a c leg so what's the target for tomorrow's level so this was a bu buy the dip level this was respected and it we did reverse up so this was this was a nice setup here and if we do end up playing sorry continuing downwards then I'm going to have a flat Target here for you guys in just a moment let me make sure I'm getting the accur levels for GameStop all right so GameStop the flat Target would be down here down here at $20.88 and as low as $19.60 and if you break this pivot then this pivot is going to extend so I would actually raise it to Above This level here so if you're trying to dip by tomorrow let me actually just check to see if this is entering this buy area in the in the after hour I think I think it did this here we'll put it to after extended trading hours so yeah there you go look at the flat so the flat um from the b-wave right A B C and then you enter the flat Target right and then you reversed from it so far right things can definitely change tomorrow if you if you gap down and you go below this area then you want to pay attention to the pivot down here if we go below this pivot I'll probably stop out of my calls right I'll just take the loss I'll move on right I know how to move on from a trade uh and and some people are like uh you know we've been waiting so long stuff like that very impatient I can tell these people are not made for the stock market or made for trading or some people are saying I've been waiting since 2020 right 2020 my best guess is that they've been holding from the highs here or holding from a level that they fomed into again that's terrible terrible thing to do in trading chasing a trade right they chased they got wrecked and they're mad they're still mad they're mad from three years ago or they just don't I mean there's people that I've been holding from these levels here that don't care either right and they just been just been you know continu continuing to hold and it's fine for them it's fine I guess the people who aren't mad it's fine but for the people who are mad and think that gam stop is not going to go up it it can it's got again you you it missed on revenue and it beat earnings per share I'm not a big fundamentals guy so I don't really dive into it that much but when you tend to have a lot of cash it's it's a big positive for the company but anyways I'm not going to get into all the fundamentals and stuff like that here I'm just going to go ahead and tell you guys that this is the dip by area we go below here I'm going to stop out and I'm going to wait for a trade setup to maybe get closer back to $19 $18 around this pivot that we called back when the market was crashing this is a great buy area and uh I mean we'll go from we'll go from there all right so let me take a look at Market Cipher so uh daily time frame still looking bullish minus 410 dual B strength index again things can change tomorrow tomorrow after the after the after we we start trading and things start to Gap lower then that's not going to be a big positive right a 4H hour time frame Red Dot red money flow trying to recover this could be a disaster tomorrow if we gap down and continue to run uh one this looks like a 1 two 3 4 five but again this is just the Elliot wave indicator not my personal Elliot wave charts and it's looking like we still got green money flow so it could be a dip to buy weekly time frame though is actually looking bullish so you got things turning right you got GameStop is trying to turn it's trying to make its move could to could tomorrow be like a big gap down and then a dip buy and you just start to run up or is it going to be a gap down and it's a disaster and it's a sell off you break the pivot it's just a meltdown right who who knows but for me I'm going to remain bullish until the chart is invalidated some people are just like oh I know it all right I know I know exactly what's going to happen it's going to Gap out on earnings I know exact I saw some people then why are you watching the video right like if if you know exactly what's going to happen well why do you need to watch analysis from other people right I don't know what's going to happen right it could have easily gapped up right they could those people could could have just been wrong and there was not then people are saying uh that I was arrogant not at all right I'm just saying that was a good setup and I think we had a really good setup for us to go higher but there's no guarantees there's no guarantees in this market and for people to think that that I'm they think that I'm always going to be right and I'm saying that oh my God I'm up so much and I'm going to continue to be right no that's not the case I'm just saying we've made a good call here and we've made some bad calls as well right we've made a good call here we've made a good call here stopping out of the trade right when when we when I bought the dip here very lowrisk high reward trade setup right I told you guys if we go below and we Wick down probably going to stop out and we stopped out a break even and good thing for that because look what happened after right we a complete drop another 20% drop 22% drop and then I said the next area to buy was going to be down here another good call and now you can come up dip by this level failed for me again I took a little bit more risk and I traded some options down here played in my favor now we're going to be at break even or probably slight loss tomorrow for my gap down but you got to be patient with these things when the Run comes people are going to be fing in joining the Discord asking when the next setup is and and then they're going to miss it anyways uh that's that's it for me there's no new signals here on uh on the wave edge I checked uh we actually had a 4D Green Cross here but that was a while back and in terms of like the 4 Hour we got a red cross here and the 1 hour time frame we got a Green Cross there so no real significant buying or selling at the moment and just going to sit on my hands and wait for the charts to play out have a good day guys I'll catch you guys on the next next GameStop update peace