Looking at the market in the Monthly view, it is quite easy to read current movement based on history and clear pattern it is following. Apple will continue dropping for the next 4-6months, a very good opportunity to get in on short.
Apple reached a new peak high this July/August and now it is on a retracement, but this is a good retracement to bank in on. If you look at market history you will see this is normal for it's life cycle and when it occurs, it usually lasts more or less around 6 months and this long retracement usually concludes once market hits around 50 EMA, which is represented by the White line in my chart.
So do not miss out on this opportunity in my opinion. The retracement has actually already started a few weeks ago after the peak high but plenty more down to come for a while.
For a suitable entry point to short, I suggest working with lesser time frame like on the monthly view (1M), using the MACD , Stoch RSI and CM_Ultimate_MA__MTF_V2 (combo of multiple indicators created by someone and accessible if you have pro account on tradingview).
DISCLAIMER;
Do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Apple reached a new peak high this July/August and now it is on a retracement, but this is a good retracement to bank in on. If you look at market history you will see this is normal for it's life cycle and when it occurs, it usually lasts more or less around 6 months and this long retracement usually concludes once market hits around 50 EMA, which is represented by the White line in my chart.
So do not miss out on this opportunity in my opinion. The retracement has actually already started a few weeks ago after the peak high but plenty more down to come for a while.
For a suitable entry point to short, I suggest working with lesser time frame like on the monthly view (1M), using the MACD , Stoch RSI and CM_Ultimate_MA__MTF_V2 (combo of multiple indicators created by someone and accessible if you have pro account on tradingview).
DISCLAIMER;
Do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Comment:
Tools mentioned are my top tools used to read markets in general but actually best tools for this particular market is EMA (set to 50) and MACD. Also, the Stoch RSI is good though more useful in lesser timeframe view for this market which will be good to determine best position to get in on shorting.... or going long too as it has either MA or EMA incorporated, though this EMA is not set at 50.
Comment:
Sorry, meant use CM_Ultimate_MA__MTF_V2 (not stoch RSI) for lesser time frame and has MA or EMA incorporated. Just stopped multitasking and realised I mentioned wrong 3rd tool to use for market.
Comment:
Last correction here, it will keep shorting more or less up to a year until it hits 50 EMA and not 6 months, had 6 months down for a different market I was looking at, but still on the same line to go short for a while.....
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