Tuesday's failed bearish extension has emboldened the bulls. We now have a bullish candlestick reversal pattern on the daily "Three Advancing White Soldiers". We've also retraced more than half way back of the two month trading range. We are extended as the pattern implies, however, tomorrow's jobs data in pre-market will be key to keeping the pattern and momentum with the bulls.
On the lower timeframe, we still don't have any negative divergence of the RSI to higher prices. Every test of the rising 20 period EMA was supported by buyers.
Day Trade AAPL. I placed my Fibs from high to high as the stock has been trending higher since Tuesday's capitulation. I was looking for a break of the symmetrical triangle to the downside. Took a partial when price popped back into ambush zone, just before it broke back down and traded to, and eventually exceeded the target.
No comments:
Post a Comment