Wassup guys, I'M now starting to build out my TV profile along with my social media presence with my technical analysis breakdowns using PURE PRICE ACTION W/NAKED CHARTS.
You will notice within my chart I only use a FEW indicators, which are: Volume, 21MA(intraday, D, W, M timeframes only), 200MA(Hourly, D, W, M timeframes only), VWAP(intraday, Hourly timeframes only.)
My reasoning for using certain indicators on certain timeframes are based on my own personal backtesting and trading experience. However, no matter the indicator, price action is still KING!!
So far in OCT I up 60% on AAPL. I spotted a swing play last week and waited for my entry around 145ish. I plan on swinging AAPL back to its previous pivot around 154-157. If you ever traded AAPL then you know it isn't really a violent moving stock, but it moves nicely on sequential and controlled moves.
Since Jun of 2021, AAPL has been in an uptrend until sellers stepped in back in SEPT. Price corrected nicely back to support of 138. Bounced around there for 3 weeks before breaking out this past week. Be mindful of the Daily Chart, but the weekly charts looks prime for a 7-9 point move over the next 2 to 3 weeks.
The reasoning for taking this trade:
-The controlled and sequential pullback to 138.
-50% retracement was roughly around 140-138 as well.
-Price stalled for 3 weeks at 138(support).
-Price pulled back to the 21MA.
-No congestion or overlap within the pullback.
You will notice within my chart I only use a FEW indicators, which are: Volume, 21MA(intraday, D, W, M timeframes only), 200MA(Hourly, D, W, M timeframes only), VWAP(intraday, Hourly timeframes only.)
My reasoning for using certain indicators on certain timeframes are based on my own personal backtesting and trading experience. However, no matter the indicator, price action is still KING!!
So far in OCT I up 60% on AAPL. I spotted a swing play last week and waited for my entry around 145ish. I plan on swinging AAPL back to its previous pivot around 154-157. If you ever traded AAPL then you know it isn't really a violent moving stock, but it moves nicely on sequential and controlled moves.
Since Jun of 2021, AAPL has been in an uptrend until sellers stepped in back in SEPT. Price corrected nicely back to support of 138. Bounced around there for 3 weeks before breaking out this past week. Be mindful of the Daily Chart, but the weekly charts looks prime for a 7-9 point move over the next 2 to 3 weeks.
The reasoning for taking this trade:
-The controlled and sequential pullback to 138.
-50% retracement was roughly around 140-138 as well.
-Price stalled for 3 weeks at 138(support).
-Price pulled back to the 21MA.
-No congestion or overlap within the pullback.