Abu-Sushi

Apple ( getting ready for a breakout )

NASDAQ:AAPL   Apple Inc
433 views
4
Hello everyone this is my apple idea on daily time frame ..

On my analysis I am trying to make things very simple with good entry and exist ..

We can see price is trading between red line and green line ..

Green line held as support many time as shown in the chart …

And red line is being a roof resistance … my expectation

Price is about to break out in a direction I will talk about my entry and exist .. for best R:R

Bull thesis ( buying )
I wanna be a buyer from green line to target red line .. stop loss daily candle close below green line
I wanna buy if price close above red line to target 160 .. as long as red line hold as support meaning no daily candle close below red line

Bear thesis ( selling )
I wanna sell from red line to target green line .. stop loss daily candle close above red line
I wanna sell if price close below green line to target Gap below .. as long as green line hold as resistance .. meaning no daily candle close above

RSI can help us with good hint indicator .. price is trading between red and green line … if a breach happen trend can change

for any question feel free to ask :) good luck

Comments

Yeah really difficult to guess right now.. Since last two weeks volume is reducing.. Which I fear may be result of upcoming correction or double top impact. While other people are professing Cup & handle pattern.
Reply
Abu-Sushi vishalniit
@vishalniit, thank you for the feed back yeah :) I have the same view very low volume which will cause a sell off .. unless some big news come
Reply
Perfect! I am waiting for a break below the trendline to sell. What do you prefer?
Reply
Abu-Sushi TheSignalyst
@TheSignalyst, Selling :) I wanna see that gap get filled

good luck buddy and thanks for the feed back
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out