Chapter 3 Definitions, Structures, & Examples
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Nirvana Systems Inc.
3-11
Profiting with Chart Patterns
Trend Line Break: Goldman Sachs Group
This chart shows a very clear trend line on Goldman Sachs Group.
The lower trend
line was violated in mid August. This was an excellent place to go short. Our initial
stop would be at the prior Eighths scale line which was $210.50.
It fell all the way
down and finally exited at about $185. That was good for a little more than a 8%
move.
Figure 3-10.
Trend Line Break Pattern Shown on the Chart for Goldman Sachs Group
Chapter
3 Definitions,
Structures,
&
Examples
Profiting with Chart Patterns
3-12
nirvanasystems.com
Trend Line Break: 3M
The following example shows a trend line break on 3M (MMM) to the upside. You
can see that the line does not have to be perfect. It just
needs to be approximately
hitting highs in the chart going to the left.
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