Silly Shooting Star Spotted on AAPL Daily
Updated
This is an interesting daily candle pattern we have here. Typically, shooting stars denote the top of a trend within the upper range of the wick.
And that's why this is a silly shooting star. As you can see on the left part of the chart (parabolic curve), there are some examples of shooting stars appearing all along the way. However, these are only sort of silly - in that their wicks are representative of the then-current high of the trend; not some intraday point in the middle like this gem above.
While AAPL has laughed off these semi-silly daily candles by gapping beyond them or by simply attracting too much demand (I guess?), I do not foresee the same outcome for our fully-silly candlestick today.
Hence, the short setup and basic price levels to enter and exit for your convenience.
-SeriousPigShort
AAPL
NDX
SPX
CURRENCYCOM:US100
CURRENCYCOM:US500
And that's why this is a silly shooting star. As you can see on the left part of the chart (parabolic curve), there are some examples of shooting stars appearing all along the way. However, these are only sort of silly - in that their wicks are representative of the then-current high of the trend; not some intraday point in the middle like this gem above.
While AAPL has laughed off these semi-silly daily candles by gapping beyond them or by simply attracting too much demand (I guess?), I do not foresee the same outcome for our fully-silly candlestick today.
Hence, the short setup and basic price levels to enter and exit for your convenience.
-SeriousPigShort
AAPLNDXSPXCURRENCYCOM:US100
CURRENCYCOM:US500
Trade active
Seems the put writers finally got a bit too cocky today.. the punishment will be severe for them, unfortunately.Yet, I have little sympathy. Plus I hear the view of the waterfall is spectacular this time of year.
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