AI
Saturday, June 04, 2005 1:59:48 PM
Chart Talk: TRIPLE TOP - Goldman Sachs (GS)
Not a documented trade on my journal, but it's one of the triple top patterns that's rarely talked about nowadays. It's rare because it requires patience for this pattern to develop. With the short attention span of the mechanical trading, no one has the patience to track a stock for 3 months to make the trade. That's how much time it took for this GS triple top to develop - from Feb to May. Even the breakdown took almost 3 weeks.
A true chart connoisseur should be able to appreciate this.
Not a documented trade on my journal, but it's one of the triple top patterns that's rarely talked about nowadays. It's rare because it requires patience for this pattern to develop. With the short attention span of the mechanical trading, no one has the patience to track a stock for 3 months to make the trade. That's how much time it took for this GS triple top to develop - from Feb to May. Even the breakdown took almost 3 weeks.
A true chart connoisseur should be able to appreciate this.
David
#board-3693
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