nmike
Short

CLONING APPLES

BATS:AAPL   APPLE INC
1248 8 5
I've drawn a channel based on the 201.17 & 77.51 pivots . Then I CLONED the reference channel and look what happened; a MONTHLY shooting star that close just below the top of a CLONE. At the same time there was a significant negative divergence and a much lower EFI bar.On a monthly chart, more often then not, this scenario is a sign of a SURE TOP. Now you can use the boundaries of the channels as your support/ resistance.. You can also add a FIB retracement starting from the 77.51 pivot to the shooting star . As a general rule price below 10MA is considered bearish .
Algokid PRO
4 years ago
Yep , the signs were there ( shooting star )
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perfect... another big drop coming
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so .. maybe a bounce is coming
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nmike MOD
3 years ago
update.....naked doji candle at CLONE boundary,a small sign of hope for the bulls, still long term bearish, let's see what candle we get next month
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nmike MOD
3 years ago
...big red April candle so far and EFI bars continue to get longer to the downside
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nmike MOD
3 years ago
.....was a nice hammer reversal close just above CLONE resistance,
https://www.tradingview.com/e/tH9ESufJ/
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littleriver nmike
3 years ago
snapshot


I was fortunate to catch the link you suggested last night. Very good info. Thank you !! After watching, I would say tomorrows opening will be a big clue. We are far from the 8EMA with declining volume. My sense is a another cycle down before crossing the 100SMA. Speaking of cycles, we are due for a down cycle. The red box is the reference and all the rest are clones.
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nmike MOD littleriver
3 years ago
...nice :D
+1 Reply
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