Apple (AAPL) Has broken into a fresh range and has managed to maintain its momentum in the new range. This tells me that we have a stronger chance of price continuing to the next barrier as opposed to falling. We see that the 151 has a significant price as it has tested this area many times before and respected it. Price has now been able to break above and remain above.
I would like to see a pull back into the area once again and have price respect this level of 151 once again before entering any trades. As always a rejection with wicks followed by strong bullish candles would be enough for me to take on the risk.
My target is at the next barrier which is at the 165 area. Price should smoothly go to this level as we have a clean range, but nothing is set in stone. I would not take part in the trade if price happens to break back below 151 with high volume. I would then have to reanalyze and take on a new perspective.
Let us wait for the market open and see what happens.
Prediction Analysis Overview Table
|Analysis Overview Information||Prediction Analysis information|
|On what market is this position based (Forex, Stocks, Crypto, Indices, or Commodities)?||Stocks|
|What is the trading position identifier (Name and/or Symbol)?||Apple|
|Is this a Short or Long Position?||Long|
|Would this be considered a Short Term, Medium Term, or Long Term trade?||Long Term|
|As a Short, Medium, or Long Term trade, which best describes the position (Scalping, Day Trading, Swing Trading, or Position Trading)?||Swing Trading|
|What Time Frame chart is the position based on (1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, Daily, or Weekly chart)?||4-Hour|
|Depending on the asset, how much do you expect it to move in price or percentage?||From Entry to Target – 8.36%|
|What ratio of risk to reward is this trade/position? Choose your appropriate target(s)||More Than 5 to 1 Target 2 N/A Target 3 N/A|
|What were the technical analysis tools used? Tick the appropriate boxes;||☐ Chart Patterns ☐ Indicators ☒ Price Action ☒ Support & Resistance ☐ Trendlines|
|From the technical analysis tools and indicators provided, tick the appropriate boxes for the tools and indicators used to analyze the position;||☐ Ascending Triangle, ☐ Bollinger Bands, ☐ Candlesticks, ☐ Channel, ☐ Cup & Handle, ☐ Descending Triangle, ☐ Double Bottom, ☐ Double Top, ☐ EMA, ☐ Fibonacci Retracement, ☐ Flag, ☐ Head & Shoulders, ☐ MA, ☐ MACD, ☐ Order Blocks, ☐ Pennant, ☐ Rounding Top Or Bottom, ☐ RSI, ☐ Symmetrical Triangle, ☒ Volume, ☐ Wedge|
Trading Prediction Success Probability Score
FSP ranks the probability of this trade a 5/10
- Wait for A pull back and retest
WATCH OUT FOR
- A lot of volume on the retrace down
Disclaimer: The FSP probability score is derived from adding and subtracting the positive and negative aspects of the position and is not a definitive sign of how the trade will play out. FSP is not in any way a financial advisor