COST - Top StructureThis Structure that is forming within the channel plotted i am comparing against BTCUSD bear run in 2018.
I believe the structure is a top formation with big downsides ahead.
Bars pattern shows the big drop comparison.
COST
Dollar General (DG) a recession stock is Trending UpDG had a swing low in mid-March. While it has retraced well, it is still 15% below the YTD high
On the 2H chart, the retracement uptrend is accompanied by a persistent volume of about 2X
that of March and before. I am supposing that with an early or light recession underway, value
sensitive consumers are delivering DG more revenue from its retail operations and will continue
to do so. The zero-lag MACD is showing a buy signal; I will take a long position and watch
for signs of overextension or loss of directional strength as an exit in due time.
$COST Weekly chart looks ripeHas been holding up long term support well and it just needs to break the trendline to go higher. It might take next earnings to propel it upwards.
4/14 Watchlist + NotesMy watchlist got taken down by TradingView moderators yesterday. As a recap, I was bearish on SPY, and main watch was PYPL for the 3-1 setup it had on the daily
SPY - Super bullish uptrend day. I was hoping for bearish continuation, but the markets had other plans. I can really only credit this movement to two things: Neutral CPI data, and markets possibly re-adjusting/stabilizing from yesterday's madness. Regardless of why we were so off with our prediction, we were just wrong plain and simple. Unfortunately my streak of correct predictions has ended because of today. This is a prime example of an engulfing day not following suit and moving in the unexpected direction, which happens about 15% of the time when we see engulfing candle days.
We closed relatively strong, so I have to believe we will see continuation tomorrow. Upside target set at the 416 area. I have a feeling we either pump hard tomorrow or just consolidate and create an inside day. Would rather see an inside day being made than another 2U
Watchlist:
3-1 Daily Setups: (Neutral on all except TSLA)
TSLA - Bullish
COST
DOCU
DIS
2-1 Daily Setups: (Also Neutral on All)
AMD
SHOP
PFE
SQ
BABA
LULU
CSCO
Main Watch:
TSLA & PYPL
PYPL never broke out of the 3-1 daily so now it is in a 3-1-1. Watching for upside
TSLA is in a 3-1 and has more room to the upside. Also watching for upside. Target is 191. To the downside target is 176.16
Yesterday's main watch:
PYPL: mentioned it did not break out of the 3-1 above. Not a loss, not a win either
Watchlist Stats:
3/4 on SPY predictions
2/4 Main Watch Plays
Personal Stats:
1/3 On the week
Overall red
Messed up today. Had two solid trade ideas, but just barely got stopped out on both before the move I was looking for happened. After two losses I called it a day and just watched for the rest of the day. Sometimes on days like today where I am right with my analysis, but lose trades, it is best to just stop trading and watch. Every trader has good and bad days. I can credit this red day to a few minor issues, but the main thing on days like this is to be able to recognize the mistake or mistakes, learn from them, and move on. Lets rebound tomorrow and close the week green. Good luck everyone
3/30 Watchlist + Notes SPY - Interesting day on SPY. We said yesterday that the markets could realistically go either way, but we were watching more so to the downside due to the failed 2U formed on Monday that was followed by a 2D yesterday, and having that small bearish bias by simply playing what is in front of us vs using other reasons for bias. SPY ended up gapping up premarket and closing green on the day with little to no upside wick. Based on today's movement, I believe that we will see some continuation to the upside tomorrow. With that being said, we still have the gap created in premarket to fill. I think that we will test last weeks high at 402.49 either tomorrow or Friday, but I do think that it will happen at some point sooner rather than later. I am open to playing both sides tomorrow, but it will depend on whether we break today's high and test last weeks high, or if we break today's low and try to fill that gap to the downside. It is worth noting also that we are sitting on the weekly upper trendline Final thoughts: I am forced to have a bullish bias for tomorrow, which I believe to be about 75% valid. I still think there is a chance we fill that downside gap before pushing higher
Watchlist + Bias:
AMD - 2-1 Daily: Neutral
COST - 2-1 Daily: Neutral
PFE - 2-1 Daily: Slightly Bullish
GOOG - 2-1 Daily: Neutral
NFLX - 2-1 Daily: Bullish
JNJ - 2-1 Daily: Slightly Bullish
FDX - 3-1-2U Weekly: Bullish - Today we broke out of the 3-1 weekly setup to the upside. Looking to target 226.06
Main Watch:
JNJ and GOOG
JNJ - Weekly chart is indicating we have hit a low and are looking to reverse to the upside soon. Going into tomorrow, I am hoping to see us continue up to the 154.13 level before hopefully taking out 154.54
GOOG - GOOG has room to both sides. There is a large FVG on both sides as well that relate to my targets for each side. To the downside, we have a daily FVG at yesterdays low of 100.28. To the upside we have a FVG starting at yesterdays high of 103.00, and I also have a target at the 50% retrace of that upside FVG at 103.87. Both of these targets are easily attainable in my opinion for tomorrow depending on which side we break out to. I don't have a bias as to which side id rather play, but I think that it will more so depend on how the markets are moving as a whole tomorrow. Remember, with these 2-1 setups, we are looking to play WITH momentum and not fight it.
Yesterday's Main Watch:
MRNA: (Status:) Loser (Personally Trade?) No
MRNA broke yesterdays high within the first 5 minutes of market open, which is not what we were looking for. We were looking to play downside only, and because of this movement, we did not enter. It is worth noting that both times MRNA broke yesterdays high, it was almost immediately shot back down, which shows that we would have gotten smoked if we tried playing upside. This is a good example of why we look at longer time frames like the weekly and monthly to develop a bias, and then stick to that bias.
Watchlist Stats For The Week:
2/3 on SPY predictions
2/3 on Main Watch Plays
Top Winner: NVDA (75%+)
Personal Stats:
4/6 For The Week:
Overall Green/Red?: Green (Day and Week)
Buying Costco at a discount. COSTTriangle/Three drives within an upgoing zigzag. We more often now base stop loss off a moving ATR, as testing had shown this to be a more effective strategy than mere price levels alone. Yet, ATR is not always an option.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Bullish pattern ?COST shows a bullish pattern
A double bottom structure is also seen on the 1-hour chart, and the 250 SMA position is a test for the index (around 495), where day traders can take profit and wait for opportunities.
Swing traders can stop the profit taking part and add to their positions depending on the strength of the pullback. The target position could be around the previous high of 528. Stop loss will be around the previous low of 466.
COST- another candle to confirm a reversal patter, On 3 March 2023, COST appears a reversal patter which we need to confirm it on Monday. Anyway, there is a very attractive reward and loss ratio. Stop loss should be $465.
COST testing meaningful supportCOST testing meaningful support at the BLUE channel structure.
The overall bias remains to the downside.
A break below the BLUE structure could allow price to slip into the lower $400 handle.
$COST Costco 2-2 Reversal Month$COST took the 2-2 reversal Month and is headed to the target 1 of $449.03
$COST also has triggered the Inside Quarter down with magnitude to $406.91 but the Q ends 12/31
Currently $COST is FTFC down
COSTHigher lows are being formed on Costco although it seems that this one could continue to fall, not much was able to be done above 533 on it which was a major resistance.
COSTCO - BEARISH SCENARIOCostco is set to report its fiscal first-quarter earnings Thursday after the market close.
The company experienced cooling sales in November as shoppers spend more cautiously amid news of increasing layoffs and stubbornly high inflation.
Also, In the near-term future, Costco may face margin pressure from elevated supply chain costs (retailers have been receiving inventory earlier than expected), greater promotional activity, and higher wages.
The short-term expectations are for a breakout of the triangle and a target of $ 450.
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FIL rises in value to $4.38.Today's bullish Filecoin price analysis
$4.40 offers the greatest resistance.
FIL/USD support is indicated at $4.18.
According to Filecoin price research, the price of FIL/USD has been moving strongly upward during the past 24 hours. The cost has continued to rise dramatically and has come close to reaching the $4.18 level. The cryptocurrency appears to be moving upwards, but the market is moving in a favorable way. With a trading volume of $95,408,859, the price of FIL has increased by 3.63% during the past 24 hours as of today, November 29, 2022. Hence, having a live market capital of $1,433,268,246 and is ranked #31 in the cryptocurrency ranking.
Analysis of the 4-hour price of Filecoin: Recent developments
DOGE still HODLING overallReferring to the cost basis of DOGE/USD, realised profit/loss suggests that a majority of holders of DOGE are HODL'ing with an extremely small fraction realising losses overall. Only a small fraction of the market trading DOGE actively.
Cost basis has remained unchanged at around USD 0.20, which in my opinion has formed an important breakeven point and a level to keep an eye on particularly if event news sees DOGE stalling around this area. Certainly we would want to gauge this area not just for "break trades" to surpass it - but for continued support to come in over this market-wide break even point.
$COST Short Idea - First target 465Market has been rallying but today seemed suspect and pop in VIX implies smart money possibly hedging under the hood.
Time to start looking for hedges / short opportunities , whether we get a large move down or just a pullback before going higher, IMO in the near term we see some selling.
Costco is at trend line resistance and therefore I see it as a good hedge/ short candidate. Also at the top of the BB , implying as a mean reversion trade we at least see 495, with 465 being the max profit taking level for me.
For the less risk adverse can trade a 525/530 call credit spread or a 525/520 put debit spread, although all out short / long put is also an option ... I'm looking at DEC opex.
Cheers - Frisco
COST (COSTCO) massively bearish head and shoulders patternCOST (COSTCO) has formed a massive head and shoulders pattern over the past year, which seems like a no-brainer opportunity to get short.
COST could possibly reach 440 by the middle of October and 407 by the first week of November if the price breaches the neckline around 464. A period of consolidation could delay these estimates by several days.
Disclaimer: I am not a financial advisor, and the above statements are not investment advice. My comments are only intended for educational purposes. You are solely responsible for your own trading decisions.
COST daily bullish hammerOrder BUY COST NASDAQ.NMS Stop 473.44 LMT 473.44 will be automatically canceled at 20230401 01:00:00 EST
COST daily bullish hammer with RSI divergence gotta be quick 1.2R countertrend.
Costco slashing prices! COSTAbout to go through pivot level in what otherwise looks like a finished impulse. Picking conservative, fractally evident levels.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
COST, Bearish Quasimodo pattern is beautifully forming !COST is showing nicely a very popular price action Quasimodo pattern .
Quasimodo pattern is also called Over-Under pattern. It is simply formed by series of Highs and lows as shown on the chart.
Sell zone (568-571 USD) was shown on the chart for COST. In addition to strong static resistance of pattern we also have 0.786 Retracement level of the last major decline in this zone. Moreover, Pull back to broken up trend line might be completed at mentioned Sell zone.
It is also worth to note, All indicators will be extremely overbought if COST can reach to shown sell zone.
As Quasimodo pattern has been proved to be of high probability success , we certainly keep COST in our short watch list but do not jump into trade blindly. As always we need a reversal trigger at sell zone to open our position . Take profit targets are also shown on the chart by green lines.
The reference of the inserted picture was shown on the chart . You can find many other pics and examples simply by googling " Quasimodo pattern ".
Good luck everybody.
COST Costco Wholesale Corporation Options Ahead Of EarningsLooking at the COST Costco Wholesale Corporation options chain, i would buy the $475 strike price Puts with
2022-9-30 expiration date for about
$5.15 premium.
Looking forward to read your opinion about it.
COST trade setup idea 8 september 2022530.5 is an important level for Costco. This level coincides with 34 EMA.
If the stock crosses this level, then we can go long with a target of 543.
If the stock is not able to cross this level, then I would go short with target of 510
