Forex Trading Library

AAPL Intermediate Intervening Wave (X) To End Near 163.65

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Chart of AAPL

The current AAPL structure suggests the formation of a corrective pattern taking the form of a cycle zigzag a-b-c.

Most likely, a complex correction b is formed, 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 under development.

The wave Ⓨ is similar to the intermediate double zigzag (W)-(X)-(Y).

The price could soon rise to 164.16 and complete the intervening wave (X). At that level, it will be at 76.4% of actionary wave (W).

Chart of AAPL

Let’s consider an alternative scenario in which waves (W) and (X) have ended.

It is possible that the market is now in the last sub-wave (Y). Perhaps it will be a minor triple zigzag, as shown in the chart.

The price in the specified wave (Y) could fall to 109.20. At that level, wave Ⓨ will be at 123.6% of Ⓦ.

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