Long

Falling Wedge- Bullish - Update

Updated

Just posting a quick update here as GS has gotten beaten down as the broader markets pulled back but has seemingly found some support after reclaiming its 20-Day SMA. GS is lagging the XLF at the moment, however, looks to be setting up nicely for a big breakout. GS respected support nicely with a triple bottom around the $228 mark. GS is holding within a nice falling wedge along with forming an inverse head and shoulders & bullish Gartley harmonic pattern on the hourly timeframe. Additionally, Bollinger bands are squeezing along with some bullish hidden divergence on the RSI on the 4-hour timeframe, and a golden cross on the MACD on the daily timeframe. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below

- Falling Wedge
- MACD Cross on the Daily Timeframe
- Sitting on the 20-day SMA
- Bullish Gartley Harmonic Pattern Formed on the Hourly Timeframe
- Bullish Hidden Divergence on the RSI on the 4-Hour Timeframes as well

PT1- $340.23
PT2- $342.28
PT3- $344.08
PT4- $345.73+

4-Hour Timeframe
https://www.tradingview.com/i/1DM18pAT/
Hourly Timeframe
https://www.tradingview.com/i/CbULQt0Z/

Previously Charted
https://www.tradingview.com/i/ds4TbrZU
https://www.tradingview.com/i/qymIgCWn

Comment

✅ PT1 & PT2 Reached

Trade closed manually

All Price Targets Reached ✅

jacobosiason7

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