I'm long AAPL, and would like to share my chart setup here. There's a very interesting level below price, and also below the S&P500's low. Tim West has covered this extensively in his publications, it's a technique used to find prices where the smart money has bought, absorbing retail supply en masse. These levels are detected using Vix spikes, and finding the price where a 75% retracement of the fear spike landed. I won't go into much more detail about it here, but I'll clarify my reasoning for this entry.
I was looking for a good price to go long AAPL for a while, and expected it to reach the 100 mark. We had a weekly downtrend signal operating and recently we not only exceeded the target, but also time for it ran out. So there are multiple reasons to enter the long side here, with either a wide stop loss or no stop and adjusting position size based on volatility. If interested in learning more, contact me for more information. As many know, I'm running a trading group where I share setups such as this or any of the published charts I have, but with very clear money management cues, such as add in opportunities, trailing stops, etc. as well as other options for traders who can't trade themselves directly or those who wish to receive coaching..
Cheers,
Ivan Labrie.
Trade ist aktiv
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AAPL is acting well. It must hold this zone and build a base over time.
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AAPL might test the next vix support level. Still in long, portfolio is net positive, despite the selloff. (We have some downside protection) :) Cheers.
Trade wurde manuell geschlossen
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Boom, nice profits here. Protecting capital for the time being. Expecting downside soon.
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After earnings are out we'll have clearer indications. For now, I remain bullish, but flat.
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AAPL looks like will test our next VIX support below. I'll be looking for more longs lower.
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AAPL testing the 93.28 buying wave support. If it holds it'll form a base and rally with some luck. If not I'll look to buy lower.
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Solid daily close today. Still waiting, if we get a new buy setup here it'd be great.
Trade ist aktiv
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Amazing how price reacted to the vix support levels I drew. Click play, two great long entries were offered. Currently long from 95.71.
Trade geschlossen: Stop wurde erreicht
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Got stopped at break even recently.
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AAPL might be building a base, as it is, it's a value stock.
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Monitoring for a new long entry tomorrow.
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We're long AAPL as of today. We have a very bullish close above the key earnings resistance where AAPL reported last, and also a very significant accumulation base in the lows (and a time at mode uptrend signal)
Nice chart. This appears to be a massive and well defined H&S top. A short term rally (ignoring the Aug flash crash print) to take prices back to test the n/l around $105 is likely. In fact, I would expect prices to trade up through the n/l then go for a 2nd break below to confirm the top. Any entry here I imagine would be a short-term trade but downside risk remains until the n/l is recovered.
marketwizard
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Especially with rising volume on the recent down-leg. Very bearish but ripe for a squeeze rally. Bear market rallies are by definition fast and ferocious. Love the volatility!
IvanLabrie
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Thanks for the comments!
Yes, it does look like an H&S but it's really late to short based on it (which is what usually happens with patterns).
If my long works out, it can be a long term buy, if not, making a couple points never hurts.
Let's see how it pans out.