Hi everyone,
AAPL is still in the process of completing wave (X). Looking at the daily chart, the thick black trendline that connects the highs of January 4th and March 30th, can be a potential point for wave (X) peak. There is also an open gap at 174.42. The previous wave (X) corrected exactly 0.9002 of wave (W) and if we consider the same percentage of correction of wave (Y) for the current wave (X), it points at 174.56.
Another important fact is that if we apply a Fixed Range Volume Profile to the range of January 4th to Jun 16th, we can see that the VPOC (Volume Point of Control) is around 173, which will act as a strong resistance.
Now, lets look at the 4-hour chart: we have been considering wave (X) as a triple zigzag since our previous updates, where wave Z is near its completion.
One thing I want to note is that there is a slight chance that the whole correction initiated from Jan. 4th is a flat correction. If that is the case, we are right now in leg (b) of the flat, which can even break to ATH, then a huge bearish leg (c) completes the correction.
AAPL is still in the process of completing wave (X). Looking at the daily chart, the thick black trendline that connects the highs of January 4th and March 30th, can be a potential point for wave (X) peak. There is also an open gap at 174.42. The previous wave (X) corrected exactly 0.9002 of wave (W) and if we consider the same percentage of correction of wave (Y) for the current wave (X), it points at 174.56.
Another important fact is that if we apply a Fixed Range Volume Profile to the range of January 4th to Jun 16th, we can see that the VPOC (Volume Point of Control) is around 173, which will act as a strong resistance.
