A lot got left holding a bag of apples.
Daily time frame analysis
APPL had been in an ascending wedge between Sept. ’20 thru Dec. ’21.
Price broke out of wedge to all time highs. We thought this was going to the moon.
Price double topped at 181.00 and was unable to continue upwards.
Price has gone into a minor downtrend and broke down back into the wedge it broke out of.
Price in bear flag. Cue to short.
Short trade
Entry: 159.90
Stop Loss: 165.56
Target: 150.67
Risk/Reward ratio 1.64
Daily time frame analysis
APPL had been in an ascending wedge between Sept. ’20 thru Dec. ’21.
Price broke out of wedge to all time highs. We thought this was going to the moon.
Price double topped at 181.00 and was unable to continue upwards.
Price has gone into a minor downtrend and broke down back into the wedge it broke out of.
Price in bear flag. Cue to short.
Short trade
Entry: 159.90
Stop Loss: 165.56
Target: 150.67
Risk/Reward ratio 1.64
Trade closed: stop reached
Stopped: 165.56will look to re-enter short trade if I see candle stick reversal off 20ema on daily
Trade active
Re-entering tradeShort trade
Entry: 168.53
Stop Loss: 171.04(-1.49%)
Target: 151
Risk to reward Ratio: 7.11
Trade closed: stop reached
Trade was stopped at 171.04. -1.49%, -1R
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.