double top on apple
Updated
hey traders,
on apple, from October we see very bearish mood.
the market was in a downtrend and followed a falling channel.
after the market hit 142 leve we see a steady retracement and 10th of January the channel was violated.
now, the market looks really overbought and formation of this double top leaves us clues that with high probability bearish will come into play.
(also, on a 4 hour chart we see a nice completion of a bearish abcd pattern)
I will be waiting for a bearish violation of local support to sell the market.
Target is based on structure.
Stop above tops.
good luck!
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