Once upon a time, there was a guy named Jack who was obsessed with trading in the stock market. He spent every waking moment analyzing charts and studying market trends. His favorite company to trade was AAPL, and he had been eyeing it for weeks, waiting for the perfect moment to buy.
Jack had set a goal for himself to ride AAPL up to about $168, but unfortunately, the time hadn't come yet. He was patiently waiting for the price to dip a bit more so that he could pounce on it and make a fortune. He spent hours each day checking his charts and watching the news, hoping for a sign that the time was right.
One day, while Jack was staring intently at his computer screen, his roommate walked in and asked what he was doing. Jack excitedly explained that he was waiting for AAPL to retreat so that he could buy in and ride it to $168.
His roommate looked at him skeptically and asked, "Why are you waiting for it to go down? Isn't the goal to buy low and sell high?"
Jack chuckled and replied, "Yes, but I have a secret weapon, the wave master indicator! It's showing some downside pressure, so I'm exercising patience and waiting for the right moment."
Be like Jack. Use your indicators. Check the chart and you can see when a buy has triggered, it resulted in a big move down. We haven't see a 4h sell signal since 2021 and we just got one. Wait for the green wave to reset.
@AlmadeCubano, If you look at the chart in the bottom section, you'll see the wavemaster indicator. There is an area with a red background which indicates a warning. If you look at all the green warnings, they have been followed by decent uptrends. Now that we have a sell warning, the price has already retreated a bit which was expected. Now we need to wait and see if we get further decline or if "that was it". I doubt that was it but in order for me to buy AAPL common stock, I need to see another solid buy warning on the indicator.
AlmadeCubano
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@bitdoctor, Thanks for the explanation. I think it makes sense, especially given the gap in the daily chart March 2 - 3.