AAPL Trade on Sep 24, 2015 11:15 from Holden: Tradervue User Stock Trades.

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Holden

 

In Place of a Dev Play today I am doing another A+ set up - Morning BPB - Change of character at support, confirmation and go.
This play is incredibly important because it also is one of my top set ups because it can provide really good r/r opportunities when used for either a continuation move (when the name is already in an uptrend) or a Reversal move (when name trades down into potential support area and changes character before breaking higher.
What are the variables - (Checks) in my favor for this set up (this is all about a Reversal Play- not continuation play)
Pullback to key support level on higher time frame (can be prior support/resistance)
Defined low made intraday
Look for a clear attempt lower and POP back up higher- this is an indication to potentially look for continuation.
Price action consolidates above vwap with a pretty clear change of character on the tape
Big picture support with this name setting up similarly as I was looking for a possible bounce play following a dip and opat 190.5 which was below the level I initially expected but that is where the price action gave me a real potential reversal signal
My thought process-

I know that this play takes time to develop and is relatively complex. In executing this play, I have to be prepared for a slow, methodical move to develop and focus on playing good defense against key levels, allowing for random price action to cccur as long as the action is moving according to the anticipated price path (respecting 2 min vwap, pullbacks consolidate above prior resistance levels, etc. Also want to be really good about playing good defense and cutting immediately when I have a reason2sell because if this play fails, it can fail very hard.
I entered long on price action holding vwap against the key low just below at 112.5
Was a little nervous about the play but really liked that the big picture seemed to be supporting the action and was confident in my work to have allowed the price action to consolidate and hold higher above vwap before getting involved with this play.
What happened and how I responded -
as the action moved up I got a little aggressive and added to my position (adding 1 tier) when price action held above the initial consolidation thinking that this could extend well up to at least the declining 60 min vwap at 114 or so.
Almost immediately after my entry the price action pulled back hard quickly but buyers stepped right back in and supported.
Price action made its way higher and when the action and big picture spiked up into R level and failed then got below 2 min vwap, I took exit on the entire position comfortable with my Reason2sell.


Execution detail:

Date/time Symbol Side Price Position
2015-09-24 11:15:39 AAPL buy $112.680 long
2015-09-24 11:27:45 AAPL buy $112.820 long
2015-09-24 14:16:17 AAPL sell $114.070 0


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