My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks, crypto, options and indices🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Alphabet.
Just 9 months ago Alphabet stock perfectly retested major previous resistance which was turned support and in confluence with a retest of the 0.618 fib level we saw a rally of 60%.
Considering that Alphabet is now retesting the channel resistance it is quite likely that we will see a short term drop before I do expect new all time highs on Google stock.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.