Ustock
check aapl analyze before buyinghello guys:
As you see on chart, price formed a double top (it is not perfect but still valid), after confirmed this pattern pullback and moving downward as height as 0.6 of double top height but first target of this pattern is $117 so I think apple has a deep retrace to decision point to touch bearish trendline and after that will start mid-term bearish movement, but for getting short position we need confirmation so check below chart:
This pivot belongs to weakly time frame so I should check it, for confirmation of short position price should close lower than $163.32 on weakly timeframe or we could get a trigger like candlestick pattern or breakdown a trendline on 4h time-frame, on the other hand, this stock has a great liquidity pool tat we should pay attention on two situations:
1- If we not get a confirmation as I mentioned before our stoploss for short position should be behind that area (I mean $191.5).
2- If price reach to that area (liquidity pool) and form a reversal candlestick pattern like engulfing or morning star we can get a short position immediately.
always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
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BE PROFITABLE
