Hi Traders! Apple short term forecast and technical analysis is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting useful tips and hacks about the MT4 platform could be found here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available! Let’s start our analysis from the highest timeframe which will be the H4 chart here.

Apple H4 (4 Hours) Chart Analysis – Strong Support Zone, Bullish Divergence, Higher Highs, Downtrend Line Breakout, ADX Indicator

On the H4 chart, the price which was moving lower reached a strong support zone, respected it and bounced higher from this zone. Also, we had a bullish divergence that has formed between the first low that has formed at 154.62 and the second low that has formed at 150.03 based on the MACD indicator which we may consider as evidence of bullish pressure. The price then moved higher and broke above the high at 168.59 thus creating higher highs. Also, the price has broken above the most recent downtrend line and is currently holding above it, we may consider these as other evidences of bullish pressure. In addition to this, the ADX indicator gave a bullish signal here at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. So, everything looks good here for the bulls and we may now move down to lower timeframe and see if we can find evidences supporting this short term bullish view.

(Note: You can learn about a Killer Forex Strategy “Double Trend Line Principle” here)

Apple H1(1 Hour) Chart Analysis – Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Two Strong Support Zones

On the H1 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. Also, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, the ADX indicator gave a bullish signal here as well at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Currently, it looks like a correction is happening. Also, we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. Until both these strong support zones shown in the image below holds my short term view remains bullish here and I expect the price to move higher further.

Technical Analysis & Forecast Summary

Apple H4 (4 Hours) Chart Analysis 

• Strong Support Zone, Bullish Divergence, Higher Highs, Downtrend Line Breakout, ADX Indicator

Apple H1(1 Hour) Chart Analysis 

• Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Two Strong Support Zones

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

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Happy Trading!

Arvinth Akash
Traders Academy Club Team.

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