AAPL Bottom or Correction?
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.
2) The view in red where we are in a three wave correction with the low of $110 being A, where a run to $127 (.618 of the low off $110), down to 100.00 of the last equal leg at $94.90.
Active Trade: 10/16 October 16th 121.25c.
TP1: $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.
2) The view in red where we are in a three wave correction with the low of $110 being A, where a run to $127 (.618 of the low off $110), down to 100.00 of the last equal leg at $94.90.
Active Trade: 10/16 October 16th 121.25c.
TP1: $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.
Trade closed: stop reached
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