GS trade ideas
GS setup for a fall, targeting lower prices in next 30 daysIt appears to me that GS is running up into heavy resistance from the mountain of sellers over the $110 level and into the GAP supply zone where GS slid from 108 to 102 on aggressive selling this spring.
The rally appears to be forming a persuasive-pattern where plenty of new highs and smaller reactions creates the illusion of plenty of strength. The strength is masked by low volume, which indicates we should be skeptical of the rally.
Volume on the exchanges is dwindling and that is a fundamental, long term weakness. The Knight-Capital disaster is a positive for GS as it makes the competitive landscape that much smaller for GS to dominate.
I wish us all good fortune in entering a trade against the trend - it always takes "guts" to stand in front of what seems to be a steam train. I could see entering anywhere from the 105 to the 110 level. So, follow this chart and I'll do my best to pin-point the safest entry time that I can find.
Cheers.
9:29AM EST Friday, Aug 17, 2012
Goldman Sachs - ST Bearish/LT Bullish, Riding the shortsOverall, GS looks bullish, in this Wolfe Wave (along with medianlines), there seems to be a potential trade to short GS into Wolfe Wave point 5. This region is also confirmed with using Median lines. From this point 5 on, we can expect to see price rally. If not confident, an alert can be set for the price levels in the target region, which will be a good point to Buy and hold GS.
GS short set upBear Flag on the daily. Two possible ways to play:
1. Short at the break of pennant, which is also the area of a rising trendline.
2. If price bounces, watch the top of the pennant, which coincides with the 50 SMA of 154.36. Failing to break above and hold the 50 day would provide a low risk opportunity to short with a stop at 155.
Bearish Head and shoulders' topLast call hit the target price $146.60 and price failed to hold now. Last few sessions it tried to reclaimed it but failed. It looks the price is heading to the South now and this pattern has a measured move to $134 area which can be achieved within 4 weeks. Option traders can consider May time line. Join us www.woowtrading.net
GS - Bearish BatGoldman Sachs has a double top drawn right in the PRZ of an bearish bat. If the reversal pattern will be confirmed by a close under the 147.00 support we might see the uptrend line retest near the 135$ per share level. The harmonic pattern's targets are at 38.2, 50, and 61.8 retracements.
GS - the sky is the limt ?is the overall market bullish ? YES....... does it appear toppish ? YES !............
High beta name Goldman Sachs has rallied since summer 2012 ~ +75% and from the last consolidation period Nov/Dec ~ +40% . That is very very impressive , chapeau !
Pure coincidence there is a perhaps a meaningless Fibonacci price and time extension knocking at the door, accompanied with a huge steep rally and overbought situation.
Is this the top ? How dare I call it, this would be pure guessing, but since we are all in the guessing business , would I rather be long or short here ? I will give it a go and look speculative short set-up for targets around bumping on the coming trendline in a couple of months. I don't like flag-stick patterns but it is tough to call tops. Maybe this is it, maybe not yet. But a "healthy" correction or consolidation is overdue. Nothing last forever. Buy dips later again, but for now I can not resist to try a short.
happy trading
KP
GS monthly FIBONACCI ANALYSIS(mind your FIBs.)Here we have a long term and a short term FIB. retracements.The last signal was an ideal long opportunity.Since then we had all green candles.Now we are at a DUAL FIB levels and the current candle is looking positive.Next target is at 126.92 which also happens to be a resistance level.
GS - A Long Term View for traders and investorsFrom 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.
