Forex Trading Library

APPLE Primary Impulse or Double Three

0 436

APPLE shows the final section of a large primary impulse that consists of sub-waves ①-②-③-④-⑤.

Intermediate corrective wave (4) could take the simple form of A-B-C zigzag. Its completion is possible near the minimum reached by the minor wave A, near 130.37.

Wave (5) could move prices to the 154.06 area. At that level, intermediate wave (5) will be at 61.8% of impulse (3).

apple shares

However, it is likely that from September 2020, the market is forming a primary correction, which is not yet complete.

In this case, this correction has the horizontal structure of a double three (W)-(X)-(Y).

The zigzag sub-waves (W) and (X) are complete, whereas the intermediate wave (Y) has not yet ended.

In the near future, we could see an impulse decline in wave C to the 111.39 area, with the target being on the support line.

Have you been testing your strategy on a Demo Account? Sign up now and begin practicing!

Leave A Reply

Your email address will not be published.