As i initially posted 2 months ago, Apple is well on its way down and it is following prediction, here is how market currently looks as it stands, market is currently below 200, The 50 EMA line (represented by bold White line at bottom) is coming along nicely too. Two months ago when i first posted about the drop, the 50EMA line sat at 140, now 10 weeks later it is currently sitting at 145. It will keep rising until it makes contact with market and this is where it will bottom out.
I have calculated the meeting to be at 161.59, so to allow room for error i estimate anywhere from 160-165 give or take as where market will bottom out. Now to be on the safe side, let us keep an eye on the market as it moves to see where it will meet the 50 EMA and if my calculation of 160-165 is spot on.. A few on here have worked out this same bottom using fibonacci, however calculated mine through mental maths, quite simple really.
To calculate how i did, simply add each last peak top and last bottom on 50EMA line and divide by 2 and that should give you the next 50 EMA bottom, hope I did not confuse you here. If you understood, test it on the market yourself on its history. If you did not understand it then just use fibonacci instead lol, should get you the same results.
DISCLAIMER;
Do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
I have calculated the meeting to be at 161.59, so to allow room for error i estimate anywhere from 160-165 give or take as where market will bottom out. Now to be on the safe side, let us keep an eye on the market as it moves to see where it will meet the 50 EMA and if my calculation of 160-165 is spot on.. A few on here have worked out this same bottom using fibonacci, however calculated mine through mental maths, quite simple really.
To calculate how i did, simply add each last peak top and last bottom on 50EMA line and divide by 2 and that should give you the next 50 EMA bottom, hope I did not confuse you here. If you understood, test it on the market yourself on its history. If you did not understand it then just use fibonacci instead lol, should get you the same results.
DISCLAIMER;
Do set stop losses but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
Comment:
Heye is a chart with fibonacci applied and as you see market bottoms out on big drop each time on 0.5 fibonacci. This person has on the chart 0.5 fibonacci to be 163 while i calculated mine to be 161.59.
