GS - A Long Term View for traders and investors
From a technical perspective, there is alot to like for the long side to this chart. A typical bullish breakout setup is forming on the long term, and GS is positioned to benefit from any continued strength in the market, from a fundamental perspective.
On the short side, there is a definite pattern for some very nice short term profitable trades even within the context of the overall long bias of the chart. It really depends on whether you trade/invest on a short term or long term basis.
We have not included all past trades for this time-frame, but the ones we are including gives a good idea of the size of the trades that were reacted to, even if they haven't hit their 1st targets. Plenty of room for profit taking w/o having to be 100% on the nose.
The ranges of the entries for the trades are clearly shown by the area encompassed price-wise by the corresponding rectangles. Some are very wide while other are smaller. Regardless of the range, every trade that we identify has a minimum target of 5x the entry range, in other words, every $1 risked has a potential for a $5 profit. Risk/reward is always a minimum of 1/5. We never show any trade on any time frame that doesn't meet this criteria.
On the short side, there is a definite pattern for some very nice short term profitable trades even within the context of the overall long bias of the chart. It really depends on whether you trade/invest on a short term or long term basis.
We have not included all past trades for this time-frame, but the ones we are including gives a good idea of the size of the trades that were reacted to, even if they haven't hit their 1st targets. Plenty of room for profit taking w/o having to be 100% on the nose.
The ranges of the entries for the trades are clearly shown by the area encompassed price-wise by the corresponding rectangles. Some are very wide while other are smaller. Regardless of the range, every trade that we identify has a minimum target of 5x the entry range, in other words, every $1 risked has a potential for a $5 profit. Risk/reward is always a minimum of 1/5. We never show any trade on any time frame that doesn't meet this criteria.
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