Forex Trading Library

AAPL Intermediate Correction (B) To End Near 150.33

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Chart of Apple

AAPL shows the formation of a corrective trend, which takes the form of a a-b-c zigzag of the cycle degree.

Complex correction b is currently under development, taking the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg Ⓦ and the zigzag intervening wave Ⓧ look completed, and the last sub-wave Ⓨ is still in the process of construction.

The primary wave Ⓨ most likely takes the form of an intermediate zigzag (A)-(B)-(C), where the impulse (A) is formed.

The price could rise to 156.33 in the near future. At that level, intermediate correction (B) will be at 61.8% of impulse (A).

Chart of Apple

Let’s consider an alternative scenario, where the bearish primary wave Ⓨ is more complex in structure. This takes the form of an intermediate double zigzag (W)-(X)-(Y). Intermediate waves (W) and (X) have ended.

Thus, at present the market is in the last sub-wave (Y). This also takes the form of a double zigzag of the minor degree.

The actionary wave W and the intervening wave X are finished. So, in the near future we can expect a fall in the last sub-wave Y to 108.48.

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