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COSTCO WHOLESALE DL-,005COSTCO WHOLESALE DL-,005COSTCO WHOLESALE DL-,005

COSTCO WHOLESALE DL-,005

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CTO trade ideas

Be Safe// Earnings12-9 AMCPossible Parabolic Arc. This could still go higher. There is no rhyme or reason to this pattern. Eventually these do fall when the music stops. Arcs can be a long term pattern. Earnings are tomorrow after market close. This chart is on a weekly timeframe. Parabolic Arc chart patterns form with a steep rise in prices caused by irrational buying and intense speculation. Irrational buying in the public generates a strong rally to push prices vertically, followed by a steep sell-off. The Parabolic Arc is a reversal pattern and has a very predictable outcome. Although these patterns are predictable, they are relatively difficult to trade since the market sentiment is bullish. The average eventually fall in the range of 62 to 79%, but can fall less or even more. The first target is usually the 50% level. An arc is not formed overnight and usually does not fall overnight either. It can be a slow process and this one may not be finished going up in price yet. Parabolic Arc patterns consist of both panic buying on the way up and panic selling on the way down. As a stock breaks out and starts to rise, investors tend to feel its rising cycle is never going to end and build confidence based on hysteria. In the state of a rising Parabolic Arc, the price continues to rise without much of a pause and (or) with a series of upside gaps. This can be a long term pattern and is volatile as a rule on the way down. The parabolic arc is definitely priced for perfection, and any negative news, or sheer greed, can send the security down. What goes up, must come down, eventually.
NASDAQ:COST
by lauralea
3
Beginner's Charting Attempt 1: COSTFirst: Any constructive criticism is very much appreciated and helpful! :) So here I am, an absolute beginner with a couple crayons of knowledge: I just drew in what I observed to be wedges. The first a rising bullish wedge that continued to a bullish trend. That wedge was followed by a falling bearish(?) wedge. I thought a continuation pattern (bearish) was more likely than a reversal (bullish) because of resistance (COST had previously hit that high before and didn't break through). I might've used some of the terminology wrong, honestly. But I'm just trying to journal out my thought process to be able to communicate and work through my own ideas and opinions.
NASDAQ:COSTShort
by bexlua