frodo75

more weakness to follow

Short
NASDAQ:AAPL   Apple Inc
303 views
6
tgts on chart
Comment: Just so you know, I am looking at ab = cd move here. We saw a 50% retrace/pullback of the move downwards. The tape has started moving down again and though a bounce at "double bottom" is expected, if it breaks through the support and continues downwards, the first target would be 0.786 fib at 123. Algos can also see such rudimentary pattern and front run the bounce. Keep a tight SL if you want to ride the price to 1.0 Fib area.

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Great analysis as always.
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