Target 104.2Following daily chart.
Got a long signal from my indicator.
TP 104.2
SL close under 95.16 daily candle close.
Fndlong
FLOOR & DECOR $FND - Apr. 4th, 2024FLOOR & DECOR NYSE:FND - Apr. 4th, 2024
BUY/LONG ZONE (GREEN): $123.50 - $133.75
DO NOT TRADE/DNT ZONE (WHITE): $121.00 - $123.50
SELL/SHORT ZONE (RED): $110.50 - $121.00
Weekly: Bullish
Daily: DNT
4H: Bearish
Viewing this mainly as a short opportunity but keeping my eye open to the upside as well. Looking for bearish structure to continue to develop on the 4h timeframe. Moving up to the Daily timeframe I'd like to see a wick lower than the previous day's low at 120.64 before considering this bearish, and preferably with a close below the 120.64 level. The weekly timeframe does not have bearish structure and has not broken down bullish structure, however; there is a strong bearish candle, the structure is just being respected at the top of the zone at 121.00. Bears should be looking for momentum to continue through this zone to breakdown tomorrow or sometime next week.
Previous zones from my most recent NYSE:FND post are still shown for reference but have had their visibility decreased to avoid confusion. That post has been linked with this one to jump back and forth.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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FLOOR & DECOR $FND - Mar. 3rd, 2024FLOOR & DECOR NYSE:FND - Mar. 3rd, 2024
BUY/LONG ZONE (GREEN): $123.50 - $137.10
DO NOT TRADE/DNT ZONE (WHITE): $119.00 - $123.50
SELL/SHORT ZONE (RED): $107.50 - $119.00
WEEKLY: Bullish
DAILY: Bullish
4H: Bullish
Of the last 16 weeks we have seen 13 of them finish green. Daily and weekly show massive bullish momentum and structure. Chart is a bit messy with all the levels, would pay most attention to structural highs and lows on the Daily/4H timeframes and the buy/sell zones I have drawn. Some of the previous zones are labeled for reference when price begins to pullback. There was a range on the daily timeframe where I did not zone the areas as it would have been too messy to navigate on the charts. I did label areas I looked at when price was peaking out of the zone in both directions. Bulls can enter on new structural highs or a pullback to $107.50, however; the lowest I could see a pullback being would be around $101.80 even though I would consider this highly risky to then enter a long. Bears might be looking for early entries on a low timeframe breakdown below $119.00 at the earliest; safely bears would have to look below $107.50 until new price movement develops.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
