Learn this 1-2-3 trade setup on Apple stock

Learn this 1-2-3 trade setup on Apple stock 300 169 Minimalist Trading – Best Trading Indicators for TradingView

Learn this 1-2-3 trade setup on Apple stock

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Introduction

Today we’re looking at another trading setup using our technical indicators, which are considered to be among the best indicators for TradingView. In particular, we’re using the Bottoms Tops Signal in combination with the Levels and Zones, and the RSI Exhaustion.

By using our stock technical indicators for TradingView, we perform a rigorous Apple stock analysis and identify an interesting 1-2-3 trade setup. The only concerning thing that we see in this apple stock analysis is that we have a major resistance level between our entry price and the target. So, it’s an interesting trade but considering the support and resistance of stock, we must remember that it might get tough during the upward movement.

Trade setup – 24 Apr 2020

Learn this 1-2-3 trade setup on Apple stock Setup 1

Apart from the resistance level which might prevent the price from moving significantly higher, we have a valid buying setup on this AAPL TradingView chart. In particular:

    1. We have two bottoms with the most recent being the highest
    2. The RSI Exhaustion moves higher as well (supports the movement of the price)
    3. The RSI Exhaustion is bearish exhausted, so the price should not move any lower

Trade update – 27 Apr 2020

Learn this 1-2-3 trade setup on Apple stock Setup 2

The price has moved higher but, as we anticipated, the resistance is preventing it from moving even higher.

Let’s see what happens going on.

Trade update – 28 Apr 2020

Learn this 1-2-3 trade setup on Apple stock Setup 3

The price tried to break up the resistance but it failed. It’s a bit concerning but we know these are major levels so it might take some time to ultimately break them.

In the end, the general outlook is still bullish.

Trade update – 29 Apr 2020

Learn this 1-2-3 trade setup on Apple stock Setup 4

Not only the price opened above the previous resistance (which is now a support), but a second support has emerged.

Both supports will now put an extremely high pressure to the upside and so, we should definitely reach the target.

For the sake of safety, and since the price is now above two supports, we moved the stop loss to breakeven, so that we’re now in a risk-free trade.

Trade closed – 30 Apr 2020

Learn this 1-2-3 trade setup on Apple stock Setup 5

Target reached and trade closed for a nice win.

In the end, this 1-2-3 trade setup on Apple stock has been profitable, a 2.77x profit to be precise. As we anticipated in our initial aapl stock analysis, the resistance could create some troubles and in fact, it did but eventually, the whole situation turned in our favor with not just one but two major supports identified by the Levels and Zones, which have helped to push the price up until our target.