AAPL intraday swing
I just want to share my thoughts on an intraday swing trade on AAPL.
After the heavy sell off yesterday, and the continuation this morning, the Nasdaq and AAPL put in a reversal around 3.30pm. This can be clearly seen on the 30 min chart. I take the entry on the 5 min as it trends up nicely and MA is at a good slope. When I look at the 30 min chart the candle is just crossing the MA and all 30 min bars are bullish. The futures have also turned around and steaming north. My entry is at 64.53 after it has consolidated a little, anticipating that the turn around is for real and we're heading north to take out the days high. The 15 min chart shows this beautifully and at 6.15 we are aiming north to the days high and the MA is putting in a steep strong move. All good signs. A look at the 30 min and it is very positive with not a red candle in sight after the reversal.
Therefore, my thought pattern is to swing this to the close. As I write it has taken out the previous two days resistance of 66.80 to 67, it is hugging the 10 MA on the way up, and as it takes out the resistance is becomes overextended. It now snaps back, and off we go again.
By looking at the longer timeframe charts you can see the forest through the trees and not get freaked by the 5 min. Managed of course with a manual trailing stop.
