AAPL Trade on Sep 28, 2015 09:44 from Holden: Tradervue User Stock Trades.

Morning - Failed Attempt higher, rejected above R, Hold below and change character- AAPL In Play
Developed in a lot of names this morning as there were a lot of names in play today to the downside. I have to remember that this play is one that I can often see evolving into a potential downside trend day and I look for it when the action has already started to trend lower on higher time frames.
There are a couple of keys to success in this play that I want to be looking out for and a couple different approaches to attacking this play depending on the big picture set up and the individual story in this name. Also, this play is more likey to develop early in the session, in the first 15 or 30 minutes so I want to be looking to allow that action to develop then begin to prepare to get involved as the action confirms. This can be a really great play with tremendous R/R for continuation moves lower so is very important for me to continue to evolve my favorite way to attack this set up and practice my execution with high level of consistency.
What are the variables - (Checks) in my favor for this set up
Name in downtrend on higher time frames (60 min or daily is idea. Best when action is respecting those trends or has already started breaking lower out of a consolidation Day2 play not a play to look for on an initial gap lower (day 1) move out of consolidation.
Big picture weakness helps tremendously, looking for the same or a similar set up in the big picture can be very valuable.
Initial drive higher off the open, almost making me want to chase the action long but a clear failure to take out any key resistance level above before failing hard and consolidating below key S level and vwap. This action can allow me to look for a nice r/r set up short looking for sellers to resume control as soon as a lower high is established.
With a name IN PLAY like AAPL was and some real big picture weakness, I should be looking for these moves to develop faster and occur with less consolidation since there is more volume and more selling pressure present.
My thought process-

Had taken a long off the open that looked like a GREAT r/r set up early for a possible bounce play but action failed to clear R (where I took opening drive off as it is a momentum play and failing to clear R on an opening drive play is a clear Reason2sell)
Name fell hard off the resistance level allowing me to look for a potential short play. (key for this set up is the hard failure off an attempt at R and consolidation below a key S level both of which developed).
What happened and how I responded
After the failure and the hold below 114 I was looking for a longer consolidation before getting short but that did not develop and I entered short against swing high almost feeling like I was chasing the action down but it was the right move for the set up