Testing Trading Algo - Short APPL
Learning to program and practicing some scripts that i've set up. This not a well written script yet. Looks like it would be good to be short apple.
1. First x is a markdown bar lots of volume showing selling.
2. Second x, vol obviously from apple announcement day but still, a strong market could have be used for lots of distribution.
3. Red Bar: market reaches high of high volume day, rejected and closes on lower. Also of note are the narrowing spreads over the previous three days on average volume, showing kinda lack of interest in following prices up after what could be seen as heavy selling
$100 price level usually is very psychological number that leads to selling by good traders in response to poor traders buying the market. Apple looks like it's gone through a bull campaign to top out on announcement day
1. First x is a markdown bar lots of volume showing selling.
2. Second x, vol obviously from apple announcement day but still, a strong market could have be used for lots of distribution.
3. Red Bar: market reaches high of high volume day, rejected and closes on lower. Also of note are the narrowing spreads over the previous three days on average volume, showing kinda lack of interest in following prices up after what could be seen as heavy selling
$100 price level usually is very psychological number that leads to selling by good traders in response to poor traders buying the market. Apple looks like it's gone through a bull campaign to top out on announcement day
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