Started by identifying a month long channel that started forming late March.
Support seems consistent.
Identified levels @ 240, 255, 265, 290 and 305.
Notation: 240 level = L240
Expecting rejection from L290 and bounce off trend support on 27 April, followed by a rise to L305 by 1st of May.
Planning to enter after breach of L290 with a SL of 1150p (2% risk @ 8000 balance) and a TP of 1705p, just above L305 for a Risk/Reward ratio of 1.48
Perhaps a more conservative approach would be to place the TP under L305.
Support seems consistent.
Identified levels @ 240, 255, 265, 290 and 305.
Notation: 240 level = L240
Expecting rejection from L290 and bounce off trend support on 27 April, followed by a rise to L305 by 1st of May.
Planning to enter after breach of L290 with a SL of 1150p (2% risk @ 8000 balance) and a TP of 1705p, just above L305 for a Risk/Reward ratio of 1.48
Perhaps a more conservative approach would be to place the TP under L305.
Note
AAPL earnings due on 30 April, pay attention :)Note
Also, MACD shows no divergence => one more reason for going long
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.