AAPL Intraday Technicals Apr 13, 2013 15:59:49 GMT -5
Post by Mav on Apr 13, 2013 15:59:49 GMT -5
The current "fractal" still looks so similar to the intermediate-term action in Apple from mid-2011ish. Wow.
The 61.8% Fib retrace is a both a fairly simple metric to remember and it's also a great measure of momentum (which is what directional trends are all about!)
For the benefit of those newer to technicals, as iPad herself has said and pointed out through many awesome charts, there's more than one way to measure composure and often composure signals can conflict, depending on timeframe, the type/purpose of indicator, faulty market signals, whatever. Some are more "aggressive" or real-time indicators, others not.
Also, it's a great trader's rule of thumb (for traders smarter than myself, which is most everyone ) to wait for "confirmation" to have a better-odds basis for initiating new trades (which is also known as "calculated entries" - setups designed to reduce risk and uncertainty when the trades are, well, set up properly).
At the risk of splitting atoms, I happen to think AAPL's composure is improving, but incredibly weakly considering the daily and especially weekly MACD-h trends.
Have I been trading it? Very little, because to say AAPL's composure is improving is kinda like saying there was a 30-second light rain over the Gobi Desert the other week (let's just pretend there was ). I don't think AAPL's intermediate-term composure has improved nearly enough to the point of calculated trades (at least as of the past couple weeks), because even as 419-ish is holding as support, that ticker has very little momentum on most bounces, whether it be retraces of more micro downwaves or just plain volume relative to typical levels. Just my rusty 2 cents though, supported somewhat by technicals (which do not and cannot predict future direction).