This is how a C&H pattern should expand. I extended my Fib. lines from the ORL instead of the morning swing low. This is probably wishful thinking, but it worked. Notice price and volume contraction as the handle forms, followed by expansion on the BO of the base. I exited on strength as price approached the $168.00 level. AAPL is a WL stock and also included in HCPG newsletter.
Monday, April 21, 2008
Cup & Handle - Apple Inc. (Public NASDAQ: AAPL)
This is how a C&H pattern should expand. I extended my Fib. lines from the ORL instead of the morning swing low. This is probably wishful thinking, but it worked. Notice price and volume contraction as the handle forms, followed by expansion on the BO of the base. I exited on strength as price approached the $168.00 level. AAPL is a WL stock and also included in HCPG newsletter.
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12 comments:
It is a DAYTRADE not an investment...
Beautiful AAPL trade. AAPL was one of the stocks I was following closely today (one of the best chart out there today) but I did not "see" the C&H with the perfect volume contraction. Congrats!
Yeah, it's a daytrade. Surprised that it took off so well, given the uncertainty about earnings later this week.
Thanks Anarco! AAPL was a beaut, especially on a rather lackluster market day.
Hey Jamie,
Agree with Anarco, nice eye in the AAPL! I caught CNQ on a late day BO from a looser (overall) C&H. It tightened up fairly well before the BO.
Question: For stocks that are not on your focus list (stocks that you "discover" during the session), do you always review the daily before trading? Many trade from the intraday charts only (15m, 5m, 1m) without seeing the bigger picture from the daily. Do you feel that much of your confidence comes from the daily setup/chart?
Solars are coiling for a range expansion: FSLR, LDK, TSL
Hey Jim,
Nice job on CNQ. I had a lot on long shadows on my CNQ chart and many other NYSE stocks today. Think it might be a problem with Esignal.
I have 4 timeframes on my screen at all times incl. daily. That's the most important timeframe. I'd rather buy a stock breaking out of a well formed base than a stock trying to push through layers of resistance.
Also traded V and MTL for some decent moves today.
Thanks for the tip on solars. Haven't done my homework yet. Too busy watching Hockey. Big win for us tonight!
You are welcome Jamie. Here are a few more to consider: RIMM, EXH, TCK, WLT, LEAP, KLAC, LRCX
If any of these happen to coincide with HCPG, I am not a subscriber (but have considered it based on your positive comments).
Thanks Jim,
One of your picks tonight is on their forming list. I think they offer a one mth free trial.
I like KLAC.
Jamie, what time frames do you use to get the patterns, Thank you.
I've been following your work and would like to suscribe to learn how to catch the patterns. I find your analysis very cleat and simple / thank you for your help. I really appreciate your work. Sally Rose
jamie, do you do mentoring in trading I woud be interested in learning how to find the setups to trade them. Thank you very much. Sally
Sally,
I use mainly the 15 min. time frame to find the setups, but also look at 5 and 1 min. to make sure everything gels.
I don't do mentoring per se., but can recommend High Chart Patterns service which is very similar to my trading style. They provide daily trading watch lists and trigger lists and provide follow-up on how the trades were executed the following day. (link for HCPG is on my blogroll).
Good trading!
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