Thursday trade - AAPL

This was a frustrating failed trade. This was a good setup for several reasons. There is a descending triangle formation with a series of lower highs on the 15 minute chart. It also has a cup and handle look. This was the third time the 92.5 level was being tested. You can see the nice breakout bar on the 5 minute chart after a mini bear flag. The tape was looking really good at the time of the breakout. My stop was pretty tight so I got stopped out when the indexes bounced off of the ORL, then everything proceeded to plummet. The most frustrating trades are the ones where you do everything right, you have a lot of confidence in the setup and it still doesn't work out. It's easier to take a loss on a bad setup.

Setup:65