As I said yesterday, AAPL long is not a trade I want to take even with a set up which looks close to a move being it just put in what I think was its head fake move, that would also mean the base is about a day and a quarter or so, which for me means a smaller move and the need for leverage like call options.
It's not that I think the AAPL trade won't work, it's that the unpredictability factor/volatility has gone way up and in that situation I want to align myself with the highest probabilities which would exclude an AAPL long, in any other circumstance I'd be tempted to take the trade.
In any case, if you are interested, here's what AAPL is looking like...
Yesterday's accumulation and the reason I closed the AAPL 535 puts which was the right call, we have a small head fake and those are generally seen just before a reversal (upside) with accumulation leading at that head fake so it's likely some stops were run and accumulated.
2 min with a strong negative divegrence, this positive is not on the same scale, but for a quick trade it doesn't need to be, it's just about using the right tool for the job and realizing that this is not likely to be even a swing trade long, but a short term trade, thus the need for leverage.
3 min chart shows the current positive and also its scale vs the last negative
And the 5 min chart is about as far as I'd go with this trade.
I think this 10 min puts a roof on AAPL's gains on a bounce, the positive is about the same time and size as the broader market and you can see it has gone very negative for the timeframe so this is the highest directional probability over a longer term-say week/s, but the 1-5 min charts are positive enough for a bounce which I'd guess would be to the $550 area or so.
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