GS trade ideas
Goldman Sachs, Apple & Russell 2000 H & S Patterns!GS, AAPL and Smallcaps have formed MAJOR reversal patterns. Bulls better act quick before stops are triggered and margin calls occur. SCARY CHARTS!!
Possible Head & Shoulders breakoutLooks like our favorite investment bank may be have even more of a down swing in store. This head and shoulders pattern looks pretty well defined. The current candle however is sitting on a support level around 170 but if that is breached then 150-152 may be in store. as the next stop.
GS(Daily). At neckline of potential H&S pattern.GS forming a potential Head and shoulders pattern, price at neckline, weekly S/R, OBV at support.
Breaking of neckline convincingly, and staying below, would confirm the pattern.
$GS Weekly toying with H&S NecklineWatch in the coming weeks if it can negate the H&S pattern, if not it has a long ride down ahead of it.
DOW JONES OVERVIEW: GOLDMAN TRADES FLATGoldman Sachs trades laterally on both long term and short term basis.
On long term basis price has recently failed uptrend borders, marked by upper 1st standard deviations from 10 and 5-year means - thus entering lateral territory within the 1st standard deviations.
On short term basis price has failed to enter a downtrend on 1-year basis by holding within 1st standard deviation from 1-year mean. GS however is still on risk of fall on quarterly basis (price trading below 1st standard deviation from quarterly mean)
Thus if GS holds above 180 - which is the lower 1st standard deviation from 1-year mean, it is likely to hold its new lateral range (180-201) with the upper border marked by the upper 1st standard deviation from 10-year mean
Textbook bounce off the 200'sSix month uptrend still intact, some bounces off the 200 wma
1D 200ma never touched.
Yesterdays candle is a nice bullish pinbar @ 200 wma
Price tried to reach the 200 ma but the buying pressure kept it on green (with good volume as well)
Two profit target with a fixed price trailing stop plan.
Slowing downWe had a test and fail of the 202s
Momo is weakening
Supports are 197 and 193
I highly doubt it reaches for the top of the channel.
Strategy is setting alerts at 200.50 or running sell stops
This trade would all come together nicely if TLT got some bids
GS(H4). Triple Top , WW potential.GS(H4). Triple Top , WW potential.
Potential WW 5,5',5''.
OBV at resistance, slight bearish divergence.
HV at support.
RSI reaching highs for this time_frame.
Price 200.
Earnings due, 16/4. Previous Earnings cycle, double bottom reversal.
Short(IF), on entry-break of Wedge, on the downside, below point 3.
Upside brake_out, weak HS pattern(second shoulder).
First Target at point 4.
Second running to 1-4 Line.
Watch the put action in the banks.Another "london whale" event could unfold , with Oil and Euro falling so much, so fast. Watch the out-of-the-money put action in the banks for any "tells".
GS - Open Interest EvaluationIf Price Closes within the range, The Pain could be closer to $100M, in Options Premium. If it breaks Lower limit, there will be a quick rally, because of option defenders.
Similar to the linked post.
This particular setup I look for is hard to find. So far I do not have a scan. Would be awesome if one exists.
GL folks
LONG GS at the balance extremeWe go long on the balance extreme completing and HS bottom pattern. These patterns tend to have a very high success ratio.
Given that we are entering November which is a beginning of a seasonally strong period until May and the Republican party gaining more influence which often spells more deregulation and other positive effects on banks there could be a potential for some uplift.
The stock is held by Warren Buffet but at much lower prices however his portfolio managers did add some at higher levels as well.
The pattern is one of the better performing chart patterns so I use quite heave size on this one. Earnings were positive and this is an earnings winner.
I expect it to start performing again some time next week.
It could have more potential than the target charted if we gain momentum but I would use that point as my first target.
Weekly bearish engulfing, trend line breakdown - $GS is a buy?I saw some analysts saying the $GS is cheap before earnings.
Last week we saw a weekly bearish engulfing candle (Outside bar).
This week we see trend line breakdown and a close below the 180$ resistance zone.
Even if $GS will bounce from a good report, can you really call it a "Buy"?
If Dow Jone were to make another high..One of the Dow 30 constituents, Goldman Sachs has to clear the resistance of around 188.45 and surge towards top of uptrend channel
$GS Achieved 5% Upside Projected targetIt was awesome trade if you were luck enough to take it from$173.98. If you want a real time alert try us www.2waytrading.com It looks to push a new higher high watch at $186.41 next overhead resistance.
Follow Up (A month Ago)$GS did as projected this is to republish previous post a month ago. Here is what we had to say "December last year, the price gained that month 10% which was one of the few best months of the year, and tried to continued into this year, it failed and reversed that upside swing momentum and printed a new lower low from Dec low. It gained almost 10% from Jan low before it gave up all of it. It was not a good sign at all and price violated with strong volume 3-EMA and printed a new lower low from Dec, and Jan lows. April low supported with light volume suggested the bottom was in process and best trade was to take long above the consolidated square..or short below the lower. End of May price broke out upside and built a strong upside swing which printed higher highs and higher lows. Now, August price bounced from 61.8% from July low to July High which gives us some conviction that if price holds August low there is higher probability that we will see a new higher high or reclaim of December high. Stay safe and follow us if you like it." If you want a real time alerts just try us www.2waytrading.com
The Inverted Head and Shoulders Failed but still can resumeThe inverted head and shoulders has not achieved its projected move or measured move towards 193 area but still is possible to achieve it. Get your gun ready and trigger your trade once the pull back completes its expected downward move. We put some important notes on the chart. If u need a real time alerts, try us www.2waytrading.com
