Today I was curious and took at look at the apple chart on the daily chart.
Fully self explanatory chart, one glance it is a down trend chart with lower high and lower low in term of technical sense. In term of EW, these are the numbers i gave to this counter. On the hindsight, if i were to look at the chart a week or two ago, i might have shorted on end of wave 4 ( at $594). Of Coz,that is on hindsight.
Looking to short now would be more risky, but it would be profitable too since according to EW, the wave 5 should be ending at least at 1.618 extension of wave 4 which is around $449?On one knows. But on the other hand, what we call a truncation might happen at around $524. So, it would be best to check out for any support formed at $520 region before you intend to short this counter.Btw these are just purely my speculation and if you want to trade please consult your legalized brokers.Good luck!
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