Apple is looking to fill its gap which also corresponds to the 61.8 fib retrace. I am still long from 544 area and will have my stops around 550 area.
Comments
Bobby_Axe
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Yeah. Nice trade, always stop loss. 539 level looks tempting will see how the market behaves next week.
Bobby_Axe
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If it breaks I'm expecting a bounce off the bottom triangle support around the 549 level.
Not sure whether to buy some more longs at that level...
MeasuredMove
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I will close out if it breaks and look for possible re-entries long but have to trade my plan.
So far it looks like the area is holding and even survived a retest of the lows at the 552 area. It seems likely it will squeeze the folks holding shorts looking for the extra dollar in the full gap fill. Will have to wait and see.
MeasuredMove
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Glad I got out this morning at 549area. Closed almost 10 points lower.