Costco... Cleanup in Aisle #7 ?

15. Nov. 2022

Here is a Costco trade (short or position flatten), I am looking at.

We have an intersection of 2 harmonic sell patterns. (A Gartley and a Shark)

(Note: I would feel more certain/comfortable of these patterns, if point X originated off the August 2022 high.)

I have marked my most probable reversal area ($531-$534) and a stop above this level.

As always I want some momentum behind my trades, so my entry is around the $522 area.

Additionally I want my momentum indicator (bottom panel) to firmly roll over.

So 2 conditions must be met.

2 Targets are marked.

This is a 4 hour chart.

So I am just watching now for an opportunity which Mr. Market may or may not give me.

Not investment advice. Do Your own Due Diligence.

I will update as needed. Earnings are early December.

Good Luck

S.

21. Nov. 2022

Anmerkung

Patience grasshopper. An update still waiting for the $531-534 area to sell

24. Nov. 2022

Anmerkung

Up to resistance zone but still waiting for momentum to rill over.

29. Nov. 2022

Anmerkung

An update... broke short term trend... momentum starting to roll over.

Short at 533+ with tight stop

1. Dez. 2022

Trade geschlossen: Ziel wurde erreicht

Target 1 reached....