MatteoBertocchi
Long

Textbook bounce off the 200's

NYSE:GS   GOLDMAN SACHS GROUP INC (THE)
95 2 3
Six 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.
Could you explain the trailing stop? Once it hits the first target, then the trailing stop kicks in and moves up over time?
Reply
snapshot


Hi Tim, I'm very excited you took a look at my chart!
My idea was to move the first stop to first recent support once price confirmed my bias (breaking recent consolidation) and crossing 50ma
2nd stop will be trailed on price approaching to break the highs
3rd stop is to protect gains in case momentum could not sustain the price after the breakout of the highs

(I attached a refined chart to reference)

I'd really like to know what you truly think about my idea..
thank you!
Reply
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