AAPL bounce play

8 Ağu 2015

AAPL has been crushed the past week(s). and it has finally slowed down and consolidated. I think this is the bottom because it has a triangle setup. Now, most people say triangle setups (aka wedges, continuation patterns, ABC pattern, etc.) can go both ways. That is true to some degree... and ill explain what i mean. a triangle setup after a downtrend that has higher highs is a BEAR FLAG, ones that have lower lows (like the circles i drew to point out) such as AAPL above are bullish patterns. I used my fib retracement and extension tool to find confluence for the most accurate exit price (red boxes are the two possible exit zones) and i found two areas of heavy confluence above.