Post by Admin on Mar 29, 2015 12:53:57 GMT -5
( click to enlarge)
A: AAPL found support just below the 122.50 area on March 11th on a volume expansion. The volume at this level suggested that buyers were absorbing just about every share that was being offered at that price.
B: On March 12th a little more supply came in early in the day but the bids held up. I entered the trade with the April 130 Calls on this day and I was looking for AAPL to bounce for a few sessions.
C: The buyers were in control for about 4 sessions and the first real sellers were found just under the 130 mark on March 19th. at the line of resistance. The internals revealed that the selling volume was muted and that there were still buyers soaking up the supply. However, buyers stepped back and the stock sold off rather quickly and I was stopped out on March 25th.
In retrospect, I should have closed this trade at the line of resistance near 130.00 level when I had a decent profit on it but I was looking for the sellers to ease back and for the 130 to be tested and possibly broken to the upside for a bigger profit. I got the opposite.
In this case, the price action and volume analysis was spot on but i should have taken what the market was giving at that time rather than look for what i wanted from it. It happens to the best of us, we should always remember that the market doesn't know any of us nor does it owe us anything and it is up to us to do our home work, execute properly and put ourselves in a position to take what is being offered and move to the next trade.
AAPL is still on my watch list and I am patiently waiting for test of the 122.50. If it breaks I am looking to go short. If not, then we could look for it to base and then trade higher.
A: AAPL found support just below the 122.50 area on March 11th on a volume expansion. The volume at this level suggested that buyers were absorbing just about every share that was being offered at that price.
B: On March 12th a little more supply came in early in the day but the bids held up. I entered the trade with the April 130 Calls on this day and I was looking for AAPL to bounce for a few sessions.
C: The buyers were in control for about 4 sessions and the first real sellers were found just under the 130 mark on March 19th. at the line of resistance. The internals revealed that the selling volume was muted and that there were still buyers soaking up the supply. However, buyers stepped back and the stock sold off rather quickly and I was stopped out on March 25th.
In retrospect, I should have closed this trade at the line of resistance near 130.00 level when I had a decent profit on it but I was looking for the sellers to ease back and for the 130 to be tested and possibly broken to the upside for a bigger profit. I got the opposite.
In this case, the price action and volume analysis was spot on but i should have taken what the market was giving at that time rather than look for what i wanted from it. It happens to the best of us, we should always remember that the market doesn't know any of us nor does it owe us anything and it is up to us to do our home work, execute properly and put ourselves in a position to take what is being offered and move to the next trade.
AAPL is still on my watch list and I am patiently waiting for test of the 122.50. If it breaks I am looking to go short. If not, then we could look for it to base and then trade higher.