AAPL showing weakness in its uptrend, this is actually a large bear flag pattern, we saw price break through the angled (dotted) trend line, It has consolidated after and created a head and shoulders pattern. It also has ran into resistance and 50% retracement level. Volume has also declined as price moved up showing divergence between price movement and actual conviction.
1) Ran into resistance
2) Ran into 50% retracement
2) Broke trendline
3) Head and Shoulders pattern
4) weak volume; volume/price divergence
Only enter this short trade if a 30 mn candle closes inside or below the rectangle under the neckline of the head and shoulders pattern.
1) Ran into resistance
2) Ran into 50% retracement
2) Broke trendline
3) Head and Shoulders pattern
4) weak volume; volume/price divergence
Only enter this short trade if a 30 mn candle closes inside or below the rectangle under the neckline of the head and shoulders pattern.
Trade closed: target reached:
Professional Trade