$AAPL still good for correlation trading
Correlation trading strategy idea analysis.
In my previous posts, I showed a good possibility for correlating trading of M.
Now I am going to show you APPL again because of it still suitable for this strategy.
Apple has a huge weight in S&P500, so the correlation predetermined to be notable.
Look at the
SPY and 
AAPL charts.
Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.
There are a lot of freshly formed support&resistance levels.
So, we can find many opportunities to catch the strongly correlated move.
Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
WhenSPY and AAPL simultaneously break their resistance levels, It will be possible to buy AAPL.
WhenSPY and AAPL simultaneously break their support levels, It will be possible to short AAPL.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
In my previous posts, I showed a good possibility for correlating trading of M.
Now I am going to show you APPL again because of it still suitable for this strategy.
Apple has a huge weight in S&P500, so the correlation predetermined to be notable.
Look at the
SPY and AAPL charts.Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.
There are a lot of freshly formed support&resistance levels.
So, we can find many opportunities to catch the strongly correlated move.
Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
When
SPY and AAPL simultaneously break their resistance levels, It will be possible to buy AAPL.When
SPY and AAPL simultaneously break their support levels, It will be possible to short AAPL.Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
More information: fondexx.pro/
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Related publications
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.
More information: fondexx.pro/
!!! Join our trader's chat !!!
Here ==> t.me/fndxworld
We build a cozy community of professional traders
!!! Join our trader's chat !!!
Here ==> t.me/fndxworld
We build a cozy community of professional traders
Related publications
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.