Friday, October 28, 2011

Easy to Spot and Trade Pattern in Apple this Morning (AAPL)

Im sorry this is not "actionable" and no i did not see this pattern until i woke up from my nap because apple is not a pretty woman to me most days. She can look real hot some days and you take her to Mastro's and some days you dont even want to take her to 7 eleven.

Anyway notice the edge here... perfect formation, the prior trend was down in the pre market.. so clearly there was a seller before your algo's were switched on. they created this magnificant pattern.. putt it in your pattern bank and remember.... when the price nears the apex there usually will be movement opposite of the prior pattern, usually in the direction of the prior move before the price reached into the catheti of the triangle... 

now this can be actionable in the future.