0LSZ trade ideas
NEW WBA Trade!I recently published a trade on WBA and in that idea (Linked below), I had expressed that I was seeing some signs to buy at the 81.80-82.50 level however those conditions were not met by the time price reached that level. I did not buy at 81.80-82.50 because I did not feel the down move was over yet. I am still not quite sure that the down move is over however I had a good entry opportunity at $80.80.
I entered this trade due to a bullish engulfing candle and multiple closes outside of the Bollinger Bands. unfortunately I was a little late on publishing this one but I am trading options on this ticker and looking to sell those at 82.50-83.00 level unless I see a new trend beginning. if I believe a new uptrend is beginning then I will be trailing stops a very specific way (derived from back testing)
I entered on the Candle highlighted in yellow on the chart. I apologize for the lack of detail on this idea, normally I list all my reasons for entry along with pictures however this entry was based on a strategy that is a little complicated to explain. I will be looking to do some tutorials on these strategies upon request so please let me know if you are interested in any of these strategies on the comments section below.
Entry-$80.80
Target 1- 82.50
Target 2- 84.00 with trailing stops
Good luck trading, I will be publishing more trading opportunities and ideas over the next couple days, thank you!
Bearish Cypher Pattern on WBA. Great opportunity! Hey everyone, we have another bearish Cypher Pattern setup on WBA. This Cypher Pattern can be seen on the hourly and 4 hour charts.. If you are not sure what a Cypher Pattern is or how to identify them, do not worry as I will be releasing a tutorial on everything you need to know in order to trade the Cypher Pattern successfully. This tutorial will be published on tradingview for anyone to see. The tutorial will be released by Wednesday March 22nd.
In that tutorial I will be explaining:
-Impulse Legs
-How to Find and identify a Cypher Pattern
-Where to place your Entries, Stops, and Targets
-How to Back test the Cypher Pattern for specific Symbols
-How to Strengthen your reasons for entry by defining trend and much much more!
This Tutorial will be interactive so make sure you have a pen and paper handy to complete the exercises if that is something you would like to participate in. I find that reading, writing, and then drawing helps you learn the fastest.
Tutorial Released on Wednesday March 22nd!
I recently published an idea (about 3 weeks ago) on WBA, The idea showed that we had a bearish Cypher Pattern setup on the daily chart. I Explained that my entry was around $85.90 and that my backtesting results showed that this trade takes on average 5-10 days to reach targets on the daily chart. 7 days after I entered the trade, I was filled on a Long wick for a price of $84.00. I Managed to get out by one penny as the low of the candle was $83.99! that does not happen often but it did this time around. my entry for that trade was on 2/16 and my exit was on 2/23. I Also trade options on WBA because there are a lot of institutional traders on this ticker. You will get massive spikes that take out your stops right before price goes in the direction that you desired. this can be a pain but we can avoid this by trading options (however we must stick to our rules) My rules which I will be sharing with you in the future for this ticker differ from the traditional Cypher Pattern rules.
please make sure you understand options and have backtested whatever it is that you are looking to trade as every symbol trades differently and options can really hurt you if you don't understand how to use them. For Cypher Patterns on the daily chart, I look for Targets at the .382 retracement of the C to D leg,however for Cypher Patterns on the hourly chart or 4 hour chart (in this case) I will be setting 2 Targets, Target 1 will be a little above the .382 Retracement of the C to D leg and Target 2 will be a little above .618 retracement of the C to D leg.
If this Pattern does complete and we do reach targets, I will be looking for some more down side over the next couple weeks and as I stated in my previous idea, I am a Buyer at $83.50. the conditions for that trade still remain positive. I will update these ideas throughout the week if anything changes or I see something different. feel free to comment with any questions you may have and I will be sure to get back to ASAP. Also be sure to check out my latest ideas below. Thanks everyone, good luck trading!
Cypher Pattern setup on WBA! 80+% Win Rate on this ticker!I trade WBA 0.25%on a regular basis as I am a fond believer in understanding what you are trading. I have a hand full of stocks that I refer to as my "bread and butter" (this is one). as you mature as a trader, you will realized that consistent profitability boils down to-
1. Solid Trading Strategy that has been back-tested thoroughly!
2. A detailed set of rules and conditions that must be met in order to trade your back-tested strategy.
3. A trading plan that consists of Entries, Targets, and Stop-losses derived from your back-testing results.
4. A hand full of stocks that you know inside and out. You have watched them for long enough to almost sense there next movement. You have thoroughly back-tested many different variables in order to figure out what the best way to trade those stocks may be.
Of course there is more but I find these to be very important especially if you are just starting to trade.
I am bullish on WBA 0.25%moving forward however I have had great success with the cypher setup on this ticker and we are due for a retracement.. I have set targets at the . 382 retracement of leg C to D
(use Fibonacci retracement tool to pull a retracement from C to point D)
My entry was around 85.90 with a stop loss in the area of X. this trade typically averages 5-10 days on this ticker and hits a .618 more often than not however due to the recent retail sales numbers and the strength in the markets, I have chosen to take a . 382 retracement as opposed to a .382 for target 1 and .618 for target 2. I will be following this trade on the hourly chart as well. You will notice that we are currently forming a triangle pattern on the hourly chart and I will use the break of that triangle to manage my trade. if we break up out of the triangle then I will look for price to stall out around 86.50 and head down to targets..
P.S I might be looking for a long if targets are met on the current cypher pattern and we reach a price of 83.50 so be sure to keep and eye out for another idea if targets are met on this trade..
I hope this was helpful! Good luck trading and
$$MAKE SOME MONEY$$
Consolidation before another move to the topside? $WBATechnically Speaking
For me, the 76 level seems fairly important. As noted on the chart, earnings come out on Thursday, so I would be very careful with this stock. If the 76 level goes the 200 WMA is the next spot I would look for demand followed by the 60 level.
Fundamentals
Walgreens supports a div yield of 1.92%. Link: www.google.com
For div history check out: www.nasdaq.com
WBALooking for a break above the shorter term trend line with an initial target of the 1.272 extension and a second target of the longer term trend line.
WBA EARNINGS PLAYSWBA announces earnings tomorrow before market open, so look to put on a play before today's NY close.
Here are the metrics for defined/undefined risk setups:
WBA July 15th 76.5/90 short strangle
POP%: 76%
Max Profit: $106/contract
Max Loss/Buying Power Effect: Undefined/$1031/contract
WBA July 15th 74/78/89/93 iron condor
POP%: 67%
Max Profit: $104/contract
Max Loss/Buying Power Effect: $296/contract
Notes: Shoot to take these off at 50% max profit and move on. For the short strangle, the buying power effect metric is quite "ugly." For the iron condor, I had to bring the wings in to squeeze $100+ out of the setup, which lowers the probability of profit (POP) of the setup heftily. There are always trade offs between max profit potential, buying power effect (defined vs. undefined), and probability of profit ... . To gain with one metric, you inevitably give up ground on another ... .
$WBA forms a bear flagBig Picture:
Market is hovering around major resistance and curling down. Index for biotechnology is lagging.
The company posted an earnings and reaction of investors was negative. No, it is building nive bear flag and with today's close it was resolved.
Trade Management:
Entry near $80.70 with respective stop at $82.20 make this trade very attractive from risk/reward point of view.
WBA BEAR FLAGWBA in a bear Flag pattern. The flag pattern is perhaps the most favorite For most technical analysis traders. Watch that 78 level, which would be the measured move. Wait for confirmation.
What I see: mirrored pattern continued higherat resistance into earnings, long stock with a wekly 87/80 PS, July 90 collar
(LIVE TEST) - STEVE PRIMO #4 SETUPS (Day 6)MU and WBA are tickers i would focus more from here. If you ask me.
