I don’t like AAPL action today.
- I see possible 3 Push Up or Double Top on the 60 min chart.
- I see double Bearish Reversal bars (Gap up to a new high but closed in red) on the daily chart.
Both indicate that a pullback of some kind is due soon, unless, of course, AAPL could be up huge, really huge tomorrow.
The system chart below is just to let you know I’ll gradually introduce a mechanical trading system (uses Cobra Impulse System as core) to trade on AAPL. The chart shows:
- Since the year 2000, invest $10,000, no compound, for long only trading signals, the winning rate WAS 89%, the net profit WAS $47,783.
- Since the year 2000, invest $10,000, no compound, for short only trading signals, the winning rate WAS 81%, the net profit WAS $13,737.
- The system longed on breaking above yesterday’s high today. The stop loss is 3.9*ATR(10).
