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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