Hello everyone this is my idea for apple on daily time frame ..
Few things before we get started and to keep on your mind ..
Apple started a new uptrend channel .. when covid-19 flue started around march .. after a sell off
Price broke the new uptrend channel on OCT 29th
This period of time is due to USA elections and Germany and Europe shutdown which caused a volatile market
However price formed a triangle .. and had a breakout to the upside ..
There is a important pivotal point which is the blue line
There is a gap There i pointed in the chart .. which need to be filled same time price could test previous uptrend channel
which is healthy for Apple .. in the long run but Still not filled
Now we make up a plan on how to trade or invest in Apple .. doing both thesis ..
For bulls ( buy thesis )
You wanna be a buyer to target red line as long as blue line hold as support and green line ( no daily close below )
You wanna be a buyer from pink line to target green line or blue line as long as Pink line hold ( no daily close below )
You wanna be a buyer if Gap below filled and price previous uptrend channel ( upper trend line of the channel )
as long as price hold ( no daily close below )
For bulls watch RSI indicator orange line need to hold also black line need to break
For Bearish ( sell idea )
You wanna be a seller from red line as long as ( no daily close above red line )
You wanna be a seller if support lines ( blue line , pink line breaks = daily close below ) to target previous channel and gap fill
For bears watch RSI indicator for break of orange line or rejection from black line
For any question feel free to ask :) and good luck
Few things before we get started and to keep on your mind ..
Apple started a new uptrend channel .. when covid-19 flue started around march .. after a sell off
Price broke the new uptrend channel on OCT 29th
This period of time is due to USA elections and Germany and Europe shutdown which caused a volatile market
However price formed a triangle .. and had a breakout to the upside ..
There is a important pivotal point which is the blue line
There is a gap There i pointed in the chart .. which need to be filled same time price could test previous uptrend channel
which is healthy for Apple .. in the long run but Still not filled
Now we make up a plan on how to trade or invest in Apple .. doing both thesis ..
For bulls ( buy thesis )
You wanna be a buyer to target red line as long as blue line hold as support and green line ( no daily close below )
You wanna be a buyer from pink line to target green line or blue line as long as Pink line hold ( no daily close below )
You wanna be a buyer if Gap below filled and price previous uptrend channel ( upper trend line of the channel )
as long as price hold ( no daily close below )
For bulls watch RSI indicator orange line need to hold also black line need to break
For Bearish ( sell idea )
You wanna be a seller from red line as long as ( no daily close above red line )
You wanna be a seller if support lines ( blue line , pink line breaks = daily close below ) to target previous channel and gap fill
For bears watch RSI indicator for break of orange line or rejection from black line
For any question feel free to ask :) and good luck