This is a "Bullish" triangle for Technical Traders meaning it's very likely to be manipulated, an upside head fake move would normally be the move, but since AAPL has been so strong recently, I can see traders buying the bullish triangle before hand and by volume, it looks as if they did.
Again, any head fake above the apex will have an alert and be checked as that would be an awesome entry, but AAPL has already broken below this triangle, but we still have Crazy Ivan shakeouts so anything is possible this early.
This is some of the damage from yesterday and why I liked it as a weekly (timely) put yesterday.
2 min confirmation and in the 2 min space across the averages you may recall me mentioning a "Ledge" looking price/3C pattern, that's it above.
The 5 min chart and damage from yesterday alone.
The 10 min chart's damage from yesterday alone!
And that even reached 15 minutes.
While I don't feel comfortable with a large options position and certainly not an AAPL equity short just yet, I do like the near term and it looks like yesterday's position is headed for a gain.
I'll set alerts, you should too, the prime area of interest is the apex of the triangle.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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