I wrote in an earlier idea that I was considering Shorting AAPL... well, I never opened the position and I am now glad that I didn't.
The overall bias is Bullish so my earlier idea was obviously trading against the trend, which I am not comfortable with.
I went ahead and pulled a FIB Retracement off the ATH and the 200 Day Moving average. This pullback landed exactly on the .5 which favors Bullish continuation. This pullback offered me a price I am happy at entering at regardless of outcome.
This is not financial advice. Do your own due diligence.
The overall bias is Bullish so my earlier idea was obviously trading against the trend, which I am not comfortable with.
I went ahead and pulled a FIB Retracement off the ATH and the 200 Day Moving average. This pullback landed exactly on the .5 which favors Bullish continuation. This pullback offered me a price I am happy at entering at regardless of outcome.
This is not financial advice. Do your own due diligence.
