In the last few days just because AAPL looked like it broke off from a triangle formation to the upper side, many of us were thought to believe it is now in a bullish trend.
As you will see in the weekly chart, it is well within it’s down trend.
In the hourly chart in a close look, it is trying to reach the Fibonacci extension of $547.19. It should be able to reach its target in a day or two.
Personally I initiated my bearish trade at $548 and closed it at $528.00. Will initiate another bearish trade, once it hit my target and if the momentum and candle stick pattern supports my argument.
As you will see in the weekly chart, it is well within it’s down trend.
In the hourly chart in a close look, it is trying to reach the Fibonacci extension of $547.19. It should be able to reach its target in a day or two.
Personally I initiated my bearish trade at $548 and closed it at $528.00. Will initiate another bearish trade, once it hit my target and if the momentum and candle stick pattern supports my argument.