Countertrend Trading Opportunity in AAPL


I will only consider a counter trend trade if there is timing for a possible low.  This was the case in AAPL on 3/14.  

I had timing for a possible low coming due 3/15-18.  We always look at timing as plus or minus a day, so the low made on the 14th was in the 'window' for a low.  We also had a 100% symmetry projection right around that low. The projection came in at 150.30.  The actual low was made at 150.10, which is close enough.  After the 15-min chart trigger, the entry was around the 154 area.  

So far we've seen a rally to 175.28, which is now directly into resistance.  This is where we are trailing up stops again. Right now I'll have a stop at 170.10.  If we can surpass the next big hurdle at 175.24-176.68, then we can see even higher prices.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.