Here is the Elliott Wave article on how to trade Apple using Elliott waves that appeared on Forbes yesterday. Trading Apple using Elliott waves
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- Elliott Wave Magic Illustrated with Wave Charts
- Elliott Wave Edge – How Elliott Wave Traders Win
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Trading Apple using Elliott Waves
By Ramki4 Comments1 Min Read
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The present rally in AAPL from 385 to 465 has reached only wave 3 . One can expect a shallow wave 4 before heading up to complete wave 5.
Hi Job, you could be right! What I constantly try to teach readers is (a) more than one count is possible at any time and we won’t know which is correct till much later (b) stick to your own count, your current paradigm till you are proved wrong (c) however be sure that you are faithful to Elliott wave rules and guidelines and lastly (d) trade your view, else it’s all a huge waste of time
I am confused with the comment on your first apple chart. It the 5th wave UP you are referring to small v or large V?
I took it to be small v since it met the criteria of exceeding the 4th wave down. Am I correct or misunderstanding.
Hi Bill, when the mini 5 waves exceeded wave 4 that came on the prior down move, we give up bearish stance, and exit shorts on the next dip. On should also go long with stops below low seen. However, now a larger five wave pattern has probably also finished, and when we correct that, we should still look for one more push higher.