AAPL 4H Short Trade Fibonacci Analysis
Hello everyone
Quick Fib trading plan
We can see that AAPL is in an uptrend overall, although it did gap downwards a few days ago.
According to my analysis, there is going to be a leg down to $136-137, supporting this idea:
1) Fibonacci retracement going to the golden pocket (61.8-65)
2) Fibonacci extension 1.618 drawn from the top to the previous leg down dragged to the top
3) RSI showing bearish divergence (prices going up while rsi going lower)
4) Fibonacci retracement 0.5 of the major swing probably going to act as support, adding confluence (blue line + 1.618 fib extension target)
Also important to mention that the blue line is the support that was the previous top (resistance), having confluence with the 1.618 fib extension and fib retracement 0.5, making it more probable of happening.
Combining all this factors, there's a strong possibility of a leg down towards that level, I recommend always positioning a stop loss , in this case I have two values: 147.54 or 148.31
If you want to share your ideas , comment down below and like if you enjoyed this analysis.
Disclaimer: I'm not a financial adviser , I'm not responsible for any losses due to following my chart analysis!
Quick Fib trading plan
We can see that AAPL is in an uptrend overall, although it did gap downwards a few days ago.
According to my analysis, there is going to be a leg down to $136-137, supporting this idea:
1) Fibonacci retracement going to the golden pocket (61.8-65)
2) Fibonacci extension 1.618 drawn from the top to the previous leg down dragged to the top
3) RSI showing bearish divergence (prices going up while rsi going lower)
4) Fibonacci retracement 0.5 of the major swing probably going to act as support, adding confluence (blue line + 1.618 fib extension target)
Also important to mention that the blue line is the support that was the previous top (resistance), having confluence with the 1.618 fib extension and fib retracement 0.5, making it more probable of happening.
Combining all this factors, there's a strong possibility of a leg down towards that level, I recommend always positioning a stop loss , in this case I have two values: 147.54 or 148.31
If you want to share your ideas , comment down below and like if you enjoyed this analysis.
Disclaimer: I'm not a financial adviser , I'm not responsible for any losses due to following my chart analysis!
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