TRIANGLE PLAYING OUT. break may happen either side. GO SHORT WHEN RED LINE TOUCHES WITH STOP LOSS. Buy when price touches Green line (one lesser degree from 2004 support line), so plan to dump when needed. Go deep short if it fails to break the ultimate red line from the 2015 top. Using options strategy carefully.
During the recent selloff, Apple on long term basis failed the 5-year uptrend by falling below 1st upper standard deviation from 5-year (260-week) mean @ 109, however held the test of 10-year uptrend by bouncing up from 1st upper standard deviation from 10-year (520-week) mean @ 92.
On short term basis, the price managed to hold 1-year ascending channel (marked...
JBLUE is holding this Trend-line support watch the levels 19.50-20 buy zones. The airlines are all hitting the buy levels. I cant stress enough, traders must learn to BUY the FEAR and SELL the GREED. Always have a plan and always have a stop. understand your parameters and you will do well.
KEEP IT SIMPLE TRADE LEVELS
On we go with the long term trend
Price action has been a bit messy so ive pulled Fib levels from a couple of different areas and its amazing how price has been around them.
Modified Shif is in there as a rough trend guide but I think that major Red Trend line is still in play,
Nice but of indecision yesterday at around 106.30
don't forget Earnings coming up!!!...
Testing the 76.4 Fib Line
Recent Break Back through the Bottom channel into the top
Expect to test the Mid line of the Channel again soon. Probably tuesday
Upcoming News expectations will be affecting Pricing.
Should be testing $100 mark within the next week or two.
IDEA IS BASED ONA COMBINATION OF ELLIOT WAVE THEORY, MEDIAN LINE ANALYSIS AND FIBONACCI NUMBERS. THE RATIONALE BEHIND THIS SETUP IS SHOWN ON THE CHART. THIS IDEA IS NOT MEANT AS TRADING ADVICE. IF YOU ARE GOING TO USE THIS SETUP PLEASE DO SO AT YOUR OWN RISK.
