HEADLINE: Breakout or Fakeout?
TICKER: APPL
SUMMARY: Last time we got a buy signal on Apple (APPL) it was a false breakaway event. Currently we are watching for another false breakaway with plans for what happens regardless of which direction price goes.
STRATEGY USED: Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping
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DESCRIPTION:
1. Fractal trend (Green background) is showing Apple in an uptrend and Breakaway Scalper (Green bar color) has confirm a long signal.
2. Last time this combination occurred as highlighted on the chart it was a false breakaway and quickly turned into a shorting opportunity (Red background and Red Bar color). We are generally watching for this to occur again.
3. Otherwise, we are looking for either a retest of the bullish order block S1 support or another test of R1 resistance where price is currently conslidating.
4. If R1 is broken, Apple has a chance to rally to the levels indicated at R2 and R3, above that is an all-time-high for Apple.
5. If S1 is retested then we could look for a reaction off that and a retest of R1.
6. However, we will be looking for a confirmation of a short position if we head to S1 and will be looking for a break below S1 with S2 and S3 as the next targets.
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NOTE: We conduct market analysis on a daily basis from a trend trading perspective using our own in house built tools. If you like any of the content we provide please leave a like and a follow to show your appreciation.
TICKER: APPL
SUMMARY: Last time we got a buy signal on Apple (APPL) it was a false breakaway event. Currently we are watching for another false breakaway with plans for what happens regardless of which direction price goes.
STRATEGY USED: Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping
---
DESCRIPTION:
1. Fractal trend (Green background) is showing Apple in an uptrend and Breakaway Scalper (Green bar color) has confirm a long signal.
2. Last time this combination occurred as highlighted on the chart it was a false breakaway and quickly turned into a shorting opportunity (Red background and Red Bar color). We are generally watching for this to occur again.
3. Otherwise, we are looking for either a retest of the bullish order block S1 support or another test of R1 resistance where price is currently conslidating.
4. If R1 is broken, Apple has a chance to rally to the levels indicated at R2 and R3, above that is an all-time-high for Apple.
5. If S1 is retested then we could look for a reaction off that and a retest of R1.
6. However, we will be looking for a confirmation of a short position if we head to S1 and will be looking for a break below S1 with S2 and S3 as the next targets.
---
NOTE: We conduct market analysis on a daily basis from a trend trading perspective using our own in house built tools. If you like any of the content we provide please leave a like and a follow to show your appreciation.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.