Apple IncLong
AAPL - Breakout of new highs
I. Analysis
1. Stock in strong uptrend as identified by the series of hh/hl - we are looking at long opportunities
2. Stock broke was has been forming a tight build up with decreasing volatility conferring us a structure to trade from - we have a value zone
3. Price broke out to make new hight in the last session and hels - we have an entry trigger
Normally prefer to trade pullbacks, but this tight build up prior breakout confers assertiveness to the breakout and gives us a reasonable level to place our stop loss.
II. Trade
1. Enter next candle
2. SL 1ATR below low of the underlined build up
3. TP next swing high
Plsd to hear yr comments
Cheers
Ruben
1. Stock in strong uptrend as identified by the series of hh/hl - we are looking at long opportunities
2. Stock broke was has been forming a tight build up with decreasing volatility conferring us a structure to trade from - we have a value zone
3. Price broke out to make new hight in the last session and hels - we have an entry trigger
Normally prefer to trade pullbacks, but this tight build up prior breakout confers assertiveness to the breakout and gives us a reasonable level to place our stop loss.
II. Trade
1. Enter next candle
2. SL 1ATR below low of the underlined build up
3. TP next swing high
Plsd to hear yr comments
Cheers
Ruben
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