The diary of a market speculator who trades stocks and commodities using technical analysis, chart patterns and trend following methods. I can be contacted at

Friday, December 02, 2011

Trade: GS

I went long GS on the breakout of the moving average. Notice the bottoming "W" pattern and the positive volume that has has developed within the pattern. My stop is just under the moving average at around $97-98. The targets are around $110 and $115. Entry was at $99.88. This gives me a phenomenal 5:1 reward to risk ratio.

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