On the DAILY chart we're able to draw a near perfect parallel channel for Apple .
Yes this analysis is simple, but keep in mind trading for the most part is simple, it's the over-thinking that makes it complicated.
Apple is approaching it's previous all time high.
Think of it this way, institutions buy retail trader's disbelief. Emotionally, do you feel in your heart and soul that Apple at these levels during record high unemployment and a pandemic is completely absurd? You're not the only one, and most traders trade with their emotions and institutions happily take the other side of the trade as it's those same emotions that will make the bears buy back their shorts later in a panic, pushing the price to even higher more unreasonable levels.
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Yes this analysis is simple, but keep in mind trading for the most part is simple, it's the over-thinking that makes it complicated.
Apple is approaching it's previous all time high.
Think of it this way, institutions buy retail trader's disbelief. Emotionally, do you feel in your heart and soul that Apple at these levels during record high unemployment and a pandemic is completely absurd? You're not the only one, and most traders trade with their emotions and institutions happily take the other side of the trade as it's those same emotions that will make the bears buy back their shorts later in a panic, pushing the price to even higher more unreasonable levels.
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