AAPL Bottom or Correction? 1HR
Updated
There are currently two views of AAPL:
1) The view in green where the bottom is set in ((4)) with a run up a new ATH . If this is set we could see a new ATH in the next 4-6 weeks.
2) The view in red where we are in a three wave correction with the low of $110 being A, a run to $127 (.618 of the low off $110) in B, down to fib retracement of 100.00 of the last equal leg at $94.90. If a correction in ((4)) will still happen, the completion date should be within 2-3 weeks, where there will then be a run to new ATH .
Active Trade: 10/16 October 16th 121.25c.
Scenario 1):
TP1: $127
TP2: $132
TP3:$137
Scenario 2):
TP1: $124
TP2: $127
To Note: If the bottom at $110 holds and we break $122.70, it is possible that the correction is over in ((4)) and we are on our way to new ATH . Not enough data to confirm this right now. 4HR chart does confirm an RSI extreme at $110, but the 1HR chart does not.
1) The view in green where the bottom is set in ((4)) with a run up a new ATH . If this is set we could see a new ATH in the next 4-6 weeks.
2) The view in red where we are in a three wave correction with the low of $110 being A, a run to $127 (.618 of the low off $110) in B, down to fib retracement of 100.00 of the last equal leg at $94.90. If a correction in ((4)) will still happen, the completion date should be within 2-3 weeks, where there will then be a run to new ATH .
Active Trade: 10/16 October 16th 121.25c.
Scenario 1):
TP1: $127
TP2: $132
TP3:$137
Scenario 2):
TP1: $124
TP2: $127
To Note: If the bottom at $110 holds and we break $122.70, it is possible that the correction is over in ((4)) and we are on our way to new ATH . Not enough data to confirm this right now. 4HR chart does confirm an RSI extreme at $110, but the 1HR chart does not.
Note
SL: $109.98Trade closed: stop reached
Note
This is not financial advice, just my opinion.
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