Thursday, December 18, 2008

Trade Idea [GG-NYSE]


Spent some time on GG chart tonight - thought I'd share my views - here is a snap shot of what I see. Feel free to comment or ask questions.

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Short GG @ or near 34-36 - current price developments:
i)price approached(ing) upper boundary of positive price channel in green
ii)resistance @ price level of ~34-36 - price attempted tp break out of this resistance on 2 occasions circled in gold 
iii)possible price retrace to lower boundary of positive price channel

STOP:
break of 36

Counter Trade:
Break of the ~36 resistance would warrant a long into a price of 42 short-term

Monday, October 6, 2008