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I have included a 10 minute chart which better shows the advance towards the time and price confluence. In retrospect it would of been a great trade to buy Apple at the open Monday following my recommendation, then sell the position June 4 or 5. Since we earlier established that time and price confluence is used in addition to an already existing trading program, this chart provides necessary information about execution. From a day-traders perspective how valuable was the analysis I provided? You would have avoided short-selling and looked for long momentum plays. Opening orders obviously provided the best opportunity, but again that is retrospect. Also, you would be looking to possibly get short at the recommended sell price. This is because it is expected to be a "reaction level". This is better judged if you have experience with level 2, NYSE specialist, or Nasdaq level 2 automated programs. From a position trade, there was much more opportunity. You could have held the equity throughout the week with an intention to sell based on date or price. Or you could have bought out of the money (or ITM) June call options @ or above the $140 (or higher based on buying power) level. Depending upon the price of delta, OTM or ITM options will provide different returns especially since you are buying a contract within the expiration month.
Pay close attention to the intraday price reaction to the red and green trendlines. Keep in mind that these are the same trendlines that are drawn on the daily charts.
Pay close attention to the intraday price reaction to the red and green trendlines. Keep in mind that these are the same trendlines that are drawn on the daily charts.
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