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.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.