Is AAPL Ready To Continue Higher?If you want to try AAPL Long right here, just use UT 2 (the green uptrend line) as your guide. It could be a short ride but you never know...
As long as AAPL is above UT 2, stay the course. But if AAPL closes below UT 2 before you have profits, get out of the trade. Once you have profits you have the ability to make "small adjustments" to trend lines. Just remember to never let a winning trade turn into a losing trade.
Today, in the last hour of trading, you will notice the first candle to close above the red downtrend (DT) line. This is your first hint that AAPL may be ready to continue even higher. The Trend Is Your Friend... Until Its Not.
I really like trade setups like this. The price moves above the DT line and that leads into a long trade. Nothing is a sure thing but this works many times. The key is to keep your stop tight so you don't lose too much money if the setup was a false breakout. You have to be willing to let the price close below the green DT line on an HOURLY chart if you are using this chart to enter the trade. When the market opens, DT 2 will be about 60 cents below today's closing price.
If you want to short AAPL, I would suggest waiting until we get a close below DT 2. At that point you could look for the price to get back to UT 1. If any of this happens, you will be able to draw another red downtrend line as your guide.
Trade What You See... Not What You Think, Or Feel, Or Hope, Or ...
The Trend Is Your Friend... Until It's Not. ~ Protect Profits & Limit Risk
Want to learn more? Check out the blog : trendlineinvestor.blogspot.com
