austrian_trader

AAPL Continuation short

Short
austrian_trader Updated   
NASDAQ:AAPL   Apple Inc
Algo has tripped on this a bit ahead of the descending triangle attern completion--targetting $162.25, keeping a tight stop however as we don't have confirmation of a breakdown below the support level of 170.
Comment:
Moving the stop into profit after today's price action. The $162 fib level is still in play but I'd want to see $170 rejected before I had confidence in reaching that target.
Trade closed: stop reached:
Days like Thursday is why we move our stops or take profits at a break even.
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