Updated

Costco... Cleanup in Aisle #7 ?

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.

Note

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

Note

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

Note

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

Short at 533+ with tight stop

Trade closed: target reached

Target 1 reached....

Steve666

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Steve666