AAPL: Should i go long now ?
many fellow traders asking this question - i've been thinking the same for couple of weeks now :)
to propose an answer, here's a 5yr weekly dual (Candle vs Renko) view of
AAPL
Note: i used a low-res, $2, Renko block cause i purposefully wanted to "zoom out" and remove as much price fluctuation and noise as i can
the idea:
---------
in the past 5 years, there have been few, 3 or 4, big drops like the one we're seeing now
- AAPL will recover, an will resume its strength as a technology leader - and it's a good investment to those who are in for the long game
- one of the easiest ways to see a good high probability (for these long term investors) entry points, is to wait until we cross the 50EMA (the blue line) on the weekly $2 Renko going up
- we just crossed 50ema down, so that recovery may take few weeks or even months to happen - but when it does, you can ride that next wave up confidently
- meanwhile, we can take short-term swings, but they are much less predictable - and in that case, i suggest you also use a similar set up but put Renko to a $0.5 or even $0.25 block and use an hourly or 10min time
- the circle i highlighted is the 2015 pattern that i think we're about to see something similar to - very "roughly" similar, nothing exact.
green lines to all!
to propose an answer, here's a 5yr weekly dual (Candle vs Renko) view of
AAPLNote: i used a low-res, $2, Renko block cause i purposefully wanted to "zoom out" and remove as much price fluctuation and noise as i can
the idea:
---------
in the past 5 years, there have been few, 3 or 4, big drops like the one we're seeing now
- AAPL will recover, an will resume its strength as a technology leader - and it's a good investment to those who are in for the long game
- one of the easiest ways to see a good high probability (for these long term investors) entry points, is to wait until we cross the 50EMA (the blue line) on the weekly $2 Renko going up
- we just crossed 50ema down, so that recovery may take few weeks or even months to happen - but when it does, you can ride that next wave up confidently
- meanwhile, we can take short-term swings, but they are much less predictable - and in that case, i suggest you also use a similar set up but put Renko to a $0.5 or even $0.25 block and use an hourly or 10min time
- the circle i highlighted is the 2015 pattern that i think we're about to see something similar to - very "roughly" similar, nothing exact.
green lines to all!
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