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Apple - Caution at the all time high!

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just created a new all time high, however we have to be quite careful now.

Trading cycles in an overall uptrend is one of the most profitable trading approaches. You are trying to capitalize on the major upswings and missing out on the major downswings. Apple is currently retesting resistance and probably creating the top of the previous cycle. I am waiting for a move back to support before we will then see the next major bullish cycle on Apple.

Levels to watch: $240, $170

Keep your long term vision,
Philip - BasicTrading

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Quick update on Apple:

Trading is all about probabilities playing out. And sometimes you just perfectly catch the top of a move and exit your position just before a reversal. Apple is now rejecting resistance and heading for a retest of the confluence of support.

Levels to watch: $225, $170