My next play was in APOL which I found on my 9:45 wide range bar scan. APOL looked a little Climatic which my method tells me to not take the first sell setup, but I had several things going for this trade. The first thing was the pattern, This is Oliver Velez’s Gift play, the 2nd item was the market was starting to accelerate lower. 3rd I had a topping tail on the declining 20 ma on the 15 minute chart with a 200 ma overhead on the 5 minute chart. I still had planned to take the 2nd sell but then, the way APOL popped, triggered the 5 minute sell and creating a larger red bar on the 5 minute chart told me that the professionals just sold. I’ve seen this pattern over and over, and APOL would be set to go lower for sure. Well, nothing is for sure, but it worked nicely and APOL rolled over with the market lower. I had nice targets lower but I was forced out of the play with a 3/4 “R” profit when price action broke a higher pivot on the 2 minute chart. Here is the chart for my play in APOL…
