Took a really profitable trade on GS yesterday and got out right before it hit the top. Now I am looking for a more long term trade since we hit a bottom in intraday trading today. I'm not going to touch GS unless it breaks a key level around $200 and closes on a .
If Goldman Sachs can close above $200 then if I look at a measured move on this , we are likely heading to $223 which would be over 10% from breakout (not from where we are right now which is about $192).
There are a lot of factors that one needs to consider trading right now and one of those factors is the fact that we're still somewhat stalled on trade deals with China and shaky ground in the legislative / executive branch in the USA.
Regardless, if we can break through this level and potentially retest it to confirm support, we have potential to make that strong push up. It'll take time and this is where patience could pay off. Keep the stop loss.
Trade safely friends.
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