Friday, September 27, 2013

GS Charts

 The price trend and the 3C Trend version on a 15 min chart, I'm not looking for a core long or trend move up here, I'm looking for a counter trend bounce so the 15 min chart is plenty, especially on this version.

The trendlines and a very tight intraday triangle, I suspect there will be some head fake, intentional or not with a triangle this tight and mature,  however as far as trade possibilities, an upside channel buster may be the long portion of the trade, you know they typically fail badly so that may be where GS becomes a core short or add-to position if you are already short GS.

I don't have time to explain every nuance of each chart, but I tried to mark them, just check timeframes and remember the concepts.

60 min chart - there's no disputing GS is a core short, any short duration long trade is just hitch-hiking a ride to a better area to enter or add to existing GS core shorts for a longer duration trending move.

 I started at 15 min positive, but there's even some signs on a 30 min chart.

10 min

Now switching from the strategic view to the tactical and starting with faster timeframes and working to the middle. The 1 min positive at that tight triangle today

 2 min confirmation and migration


5 min positive as well

I'm not sure why the 3 min chart didn't load, but there's been a lot of strong positive action on 3 min charts all day and yesterday, GS is no exception.

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