APA established new position

NASDAQ:APA   APA Corporation
Waited until Jerome Powell had finished speaking before taking any trades today,
Started the day with a new position on APA.
The ong entry trade set up is as follows:
1. Directional indicator are moving in opposite directions at an angle (pref > 35 degrees)
2. Volume osciallator (Chakin money flow and On Balance) is increasing
3. Resistance based on higher timeframe. In this case I have set potential resistance at slightly above $35
(Note that this is a projection only and does not necessarily mean that the price is expected to test resistance)
Trade active:
As expected, price reached resistance but could not break through. Down over 4% today which turned an unrealized gain into a loss, Volume suggests downside could be limited so will wait for further development
Price looking bullish again on the daily. Waitin on confirmation on higher timeframe. Still holding


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.