AAPL Follow Up / Position Management

Yesterday we entered a half size AAPL Core short position, Trade Idea/Trade Set-up (longer term-intermediate trend trade) AAPL

Looking at AAPL today, down -3.33%I have the same feeling as yesterday which was not the stellar entry as far as a head fake move, but the deterioration on more serious longer term charts and longer term signals or rather larger, highest probability signals, is getting so bad, I don't think there's a lot of time to get the AAPL short position ready.

I would not enter AAPL short today as it's down over 3% and we don't want to chase anything, but let the trade come to us.

So far for today, here's what I see and my plan for the very near term to fill out this short position.

 The link above from yesterday contains more of the charts I'm talking about as well as a link to another update with even more charts so I don't want to repost too many in 2-days.

The Trend Channel has given a stop out signal and just as important, the ATRover a weekly period has nearly doubled in a price range that is chopping sideways, increased volatility, but no price gains. We want to see higher ATRs on an uptrend, but in a lateral trend, it wreaks of distribution and topping.

The 15 min chart which has been key to recent interest and entries looks worse today than yesterday which is confirmation of the price decline rather than a divergence of buying the dip.

The 5 min chart has been calling for exactly this kind of move and it too is confirming the downside as being authentic trouble.

I don't see much that suggests AAPL should head higher except for the gap which have a high probability of being filled and the increasing volume on the day.

"If" volume increases noticeably more and the closing print is up near the red arrow, we'll have a short term reversal candlestick and the higher volume will make that a high probability reversal and the gap in the orange area would be filled. If we don't have at least a bottom wick between 1.5 and 2 times longer than the real body The open to close in the red block, the probabilities of this being a near term reversal candle are low.

I'd set alerts in the gap area for AAPL and I'd likely be happy filling the position out in that area, although something higher would be nice, I just don't see how AAPL is going to get there from here as of now.