Placing an entry idea above the .618 fib kept us safe as price continues to decline.
At this point it is difficult to determine if AAPL is in wave (c), or if wave (b) still occurs. Instead we can notice that price approaches the 20 week MA (red), usually a support.
Gann level 138 is located slightly below.
The current green count can be interpreted as wave v, but it could also be a corrective abc. In both cases we may expect the wave to come to a completion.
An idea could be to reduce any remaining short exposure towards the 20 week MA, or to set up an options trade to profit from a potential volatility contraction (TD Idea = theta decay idea) until we have more clarity in the Elliott count.
______________
constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
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These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
At this point it is difficult to determine if AAPL is in wave (c), or if wave (b) still occurs. Instead we can notice that price approaches the 20 week MA (red), usually a support.
Gann level 138 is located slightly below.
The current green count can be interpreted as wave v, but it could also be a corrective abc. In both cases we may expect the wave to come to a completion.
An idea could be to reduce any remaining short exposure towards the 20 week MA, or to set up an options trade to profit from a potential volatility contraction (TD Idea = theta decay idea) until we have more clarity in the Elliott count.
______________
constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Futures and Crypto broker
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
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.
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.