Forex Trading Library

AAPL suggests the construction of the primary fifth wave

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AAPL suggests the construction of the primary fifth wave, taking the form of an ending diagonal  (1)-(2)-(3)-(4)-(5) of the intermediate degree.

Most likely, the market has completed the construction of an intermediate correction (4) in the form of a minor triple zigzag W-X-Y-X-Z.

Thus, now the price is moving up in the intermediate wave (5). Wave (5), judging by the structure, may take the form of a minor double zigzag W-X-Y. The first two zigzag sub-waves W and X look finished.

It is possible that the bulls in wave (5) will go to 189.11. At that level, wave (5) will be equal to wave (3).

The second scenario shows that the cycle wave a has been fully completed.

In the last section of the chart, we see a downward corrective movement of the stock price in a cycle wave b, which may take the form of a double zigzag of the primary degree. It seems that the first two primary sub-waves Ⓦ-Ⓧ have already been formed.

There is a high probability that the bears in the final sub-wave Ⓨ, in the form of an intermediate simple zigzag (A)-(B)-(C), will be able to bring the market to 118.80. At that level, primary wave Ⓨ will be at 100% of wave Ⓦ.

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