H&S and Gap - RIMM

Over the weekend, Jamie mentioned a potential H&S top in POT. RIMM had a similar setup on the 15min chart and setup beautifully today with a gap down on heavy volume, followed by a consolidation on declining volume. The entry was a NRIB near the 5ema on the 15min chart.

The following chart is in response to a question by Day Tradr. Key features are shown for the last couple of days - none of these trades were taken. There was a clean 3 PP entry on Friday. Today there was loose base that led to a retest of the OR and $20 level. A small consolidation (low ADX, left shoulder) setup the retest of the OR and then turned into a small intraday H&S formation. Notice the matching consolidation (low ADX, right shoulder).