Whats next ?
I look at each elements of daily chart, and try to form a generalized conclusion :
Daily chart :
(1) Candles - bearish
(2) Box - Bullish
(3) MA20,50,200 - Bearish
(4) MACD - Bearish
(5) Vol - Bullish
15min Chart :
(1) Box - Bearish
(2) MACD - Bearish
6 bearish and 2 bullish signs. Not good enough to confirm a down on Mon.
We use pivotal point of $210 as base.
Path 1 : Open below 210, and drop to $200 area.
Path 2 : Open above $210 and go to $216, assume no strength to reach down channel. Thus will retrace back to $210 or even $200 area.
If open below 210 and down, I will short GS.
If open above 210 and up I will wait to touch channel top, then short GS.
Thus I am overall bearish on GS, based on my analysis.
Daily with Candles
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Daily with Box & Channel
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Daily with MACD
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Daily with Vol
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Daily with MA20,50,200
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15min with MACD
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