Apple is undergoing a correction phase after peaking @$200
As per my Elliott Wave count we would be in the beginnings of a larger Wave 5, in an uptrend.
I understand there is daily volume support in the range of $177-180, expecting buyers to defend the price if it reaches said zone.
Current price @ around $182.50 seems an attractive entry point for a LONG trade.
Target: Between $200-207
Stop Loss: I have set it at $170.63 but it depends on your risk appetite.
The whole idea is a standard 2/2.2 reward ratio.
Let´s see what the market tells us!
As per my Elliott Wave count we would be in the beginnings of a larger Wave 5, in an uptrend.
I understand there is daily volume support in the range of $177-180, expecting buyers to defend the price if it reaches said zone.
Current price @ around $182.50 seems an attractive entry point for a LONG trade.
Target: Between $200-207
Stop Loss: I have set it at $170.63 but it depends on your risk appetite.
The whole idea is a standard 2/2.2 reward ratio.
Let´s see what the market tells us!
Trade active:
