AAPL
Daily chart analysis
Sept.’20 – Jun.’21 price was in an ascending triangle with Resistance at 138 area
Jun.’21 price breaks out from triangle, pulled back, and turned resistance of 138 into support and continued the previous uptrend.
On Dec.’21 Price reaches all-time high at around 182.
Since making all-time high of 182, price has failed to make higher high. It has now made Lower Highs on its last two attempts to reach higher prices. This shows us the seller pressure up above from bears.
During this time, price also fell below support of 138 making a Lower Low.
Price looks to be in a downtrend price channel.
Currently, price is coming off a Lower High and has created a Downtrend line which it is current still respecting.
Unlike the previous down move from Apr.-Jun.’22, this move is fully respecting the 20ema. This move is more intense than the last and should push to make another Lower Low.
Until the trend line is broken, the downtrend is still intact and we’ll look for short opportunities when price pulls back to area of value.
Price is at “area of value”. This is my cue to enter trade.
Entering trade short
Entry: 142.37
Stop loss: 148.77, -4.5%
Target: 124.25, +12.73%, 2.83 RR ratio
Daily chart analysis
Sept.’20 – Jun.’21 price was in an ascending triangle with Resistance at 138 area
Jun.’21 price breaks out from triangle, pulled back, and turned resistance of 138 into support and continued the previous uptrend.
On Dec.’21 Price reaches all-time high at around 182.
Since making all-time high of 182, price has failed to make higher high. It has now made Lower Highs on its last two attempts to reach higher prices. This shows us the seller pressure up above from bears.
During this time, price also fell below support of 138 making a Lower Low.
Price looks to be in a downtrend price channel.
Currently, price is coming off a Lower High and has created a Downtrend line which it is current still respecting.
Unlike the previous down move from Apr.-Jun.’22, this move is fully respecting the 20ema. This move is more intense than the last and should push to make another Lower Low.
Until the trend line is broken, the downtrend is still intact and we’ll look for short opportunities when price pulls back to area of value.
Price is at “area of value”. This is my cue to enter trade.
Entering trade short
Entry: 142.37
Stop loss: 148.77, -4.5%
Target: 124.25, +12.73%, 2.83 RR ratio
Trade active:
Trade still active.
Expecting price drop. If price breaks 153, will exit
Expecting price drop. If price breaks 153, will exit
Trade closed: stop reached:
Closed @ 153
Trade active:
reEntry: 142.37
Stop loss: 148.77, -4.5%
Target: 124.25, +12.73%, 2.83 RR ratio
Stop loss: 148.77, -4.5%
Target: 124.25, +12.73%, 2.83 RR ratio