Earlier today, I've sent to the members a letter saying "who cares about iWatch?"
It's not that I'm dismissing half of the world's population that use AAPL's products, its just that I put aside all the fuss and the self promotion $AAPL is using by its flee of reporters and I consider only Price.
We have a daily bearish pattern on $AAPL that already generated nice profit. It hasn't reached its daily target yet and therefore I was looking to exploit any weakness after intra-day rally to short $AAPL.
I expected the spike up (after all the stock is with extreme bullish sentiment) and I wrote to the members to look for smaller time frames reversal (such as the 30 minutes or the hourly) to time their short entry.
I had couple of levels I've monitored during the event - The 200 SMA line, the 130$ resistance zone and 132$ with bearish harmonics.
As the price spiked up to the nearest resistance level and reversed there, the technical signal was given...
Once the pair crossed back below the 200 SMA line, that was my confirmation signal.
Over all, for now, this setup caught a 3% intra-day reversal. Still looking for continuation, but I'll wait for today's close to decide.
A trader is like a sniper. not a machine gunner - You know your target, you study it, you wait and you pull the trigger when the opportunity appears.
It is going to be a battle - $AAPL bulls will not let go so easily, but as long as the stock is within my daily reversal pattern's PRZ, I'm not looking to buy $AAPL - Only sell.
Good scalping today.
It's not that I'm dismissing half of the world's population that use AAPL's products, its just that I put aside all the fuss and the self promotion $AAPL is using by its flee of reporters and I consider only Price.
We have a daily bearish pattern on $AAPL that already generated nice profit. It hasn't reached its daily target yet and therefore I was looking to exploit any weakness after intra-day rally to short $AAPL.
I expected the spike up (after all the stock is with extreme bullish sentiment) and I wrote to the members to look for smaller time frames reversal (such as the 30 minutes or the hourly) to time their short entry.
I had couple of levels I've monitored during the event - The 200 SMA line, the 130$ resistance zone and 132$ with bearish harmonics.
As the price spiked up to the nearest resistance level and reversed there, the technical signal was given...
Once the pair crossed back below the 200 SMA line, that was my confirmation signal.
Over all, for now, this setup caught a 3% intra-day reversal. Still looking for continuation, but I'll wait for today's close to decide.
A trader is like a sniper. not a machine gunner - You know your target, you study it, you wait and you pull the trigger when the opportunity appears.
It is going to be a battle - $AAPL bulls will not let go so easily, but as long as the stock is within my daily reversal pattern's PRZ, I'm not looking to buy $AAPL - Only sell.
Good scalping today.