AAPL (Apple, not Orange)

The head and shoulders target is 329
The 61.8 fib level is 319
so if the main trend line breaks (458 current)then only go long in the 320ish area.

many people would be surprised at apples fall. This just goes to show no company is exempt from big falls.Its hard to be the biggest company in the world.
This should also show that in todays market the buy and hold investors have the most to lose.
Thats why i love being a chartist. Not allowing emotion to determine my trades(well almost)

waverider2 wrote: Remo - there doesnt seem to be any previous support on 457 so just wondered if this might be heading towards the 420ish mark?



hi waverider
Its all about the trend line. It does not need any previous supports. A true trend line will always be support. It does not require any thing else.

I find its the best way to trade of trend lines. Thats my favourite tool. Very simple method of mine. Using the power of the trend line on first touch basis.
Once a trend line breaks then it normally signals the down turn or sideways move.
With apple the trend line was miles away until now so i expect this to bounce on first contact.
Theres a head and shoulders breakout on this as well so be aware. The trendline trade should only be attempted on first attempt only.

dyor
remo

Remo - there doesnt seem to be any previous support on 457 so just wondered if this might be heading towards the 420ish mark?

I am looking for a divergence and it seems that if the 506 mark gets broken, and there is a bullish pattern, then it could be a chance to go long. In that case - a bullish candle & a divergence could be at the 457 mark you mentioned.

dl.dropbox.com/u/4385922/APPLE.png

normally i would trade the gap but i think this could be a C wave of soughts so if that is the case then this should go towards the main trend line at 457. So thats where i would be going long on first attempt.The 38.2 fib level is there abouts as well so worth the longs from those areas.
dyor
remo

Hi
that is a bit of hit on Apple. I think a quick trade at the gap with a tight stop would be worth a go and then wait for $425, cause this rally if it manages to get to gap fill then I think this rally has been a B wave and there could be a C wave to come to 425 gap.
just a thought!
Not an expert by any stretch of the imagination!
G

GGOK,

Apple is coming down today!!

It now has 2 gaps to possibly fill. Patience

dl.dropbox.com/u/21384991/Apple%20Inc%205.12%28DFB%29.png

Do you wait for the gap at $425 or buy the 1st gap at $530?

Its question's like this, where i would like advice from experienced traders???

If you buy the 1st gap at $530 would you do a quick bounce trade, (target would be??) then wait for $425? and re-enter?