OptnTradr

Is AAPL Finally Ready To Move Above The Cloud?

BATS:AAPL   APPLE INC
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Something Worth Observing
TradeTheIchimoku
3 years ago
Thanks for sharing and as an avid Ichimoku trader it is always good to see others using the system to judge the market. I'm not a stock trader so I'm no way an authority on Ichimoku using stocks, but my feeling is that it would be a brave call right now to go long apple based on what Ichimoku presents us. Weekly time frame remains very bearish (price beneath the cloud and Kijun albeit touching Tenken currently; future kumo is negative having recently twisted to the downside and Chikou span is below price and on the kumo floor which is more bearish than bullish. On this, the daily chart we can see the temptation to anticipate a change in trend - it may yet happen but we'd need to see a move through the kumo for the picture to support a long call. On the daily we see price still below the kumo and the recent kumo rejection at the start of the year is a timely reminder of its power to reject. Whilst the recent weak form bullish tenken/Kijun cross and price crossing the lines is a bullish sign the confirming signals (bullish future kumo and chikou above price) don't support it. I actually see this as a great low-risk trade to the downside with a stop just inside the kumo back down to recent lows. Thanks again, and I'll watch your chart with interest
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TradeTheIchimoku
3 years ago
Looks like the Kumo won that encounter - Back to 422?
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OptnTradr TradeTheIchimoku
3 years ago
Possible 448-444 range may be the line in the sand for many
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