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.
Hi all Risk Takers,
Here's an idea written for short term traders, tech stock investors and all Apple fans.
(1) On the 1 Hourly Chart, we observed clearly that price is trading in a general uptrend line, since May 2014.
Evidence of Support are found during May 2014 and Oct 2014 (Up arrows).
There are also signs of potential support around Jan 2015 period but...
Apple trend reversal signals are extremely strong now after the "buy the rumor & sell the news" today.
It might very well close below EMA 50 today, and that includes rejection of the all time high made back in 2012 fall.
If that does confirm, we are looking at correction down to 59~79 area which is a 40% correction (max).
Next week's movement is critical here,...
