It's rare to see a chart breaking above a long term 5th wave to make an extended . But it appears to be the case for AAPL pushed by the tech rally that started upon Trumps's election.
Anyway all the good things come to an end a some point ! And even though we pushed above the theoric 138% retracement (limit target to B point) thanks to Yellen, I still think this scenario is the right one.
Sinewave totally confirms the speculations with an EXIT on A point that gave the strenght to this move with few sellers resistance to face.. As the bull wave was powerful sinewave doesn't give any short signal on the last cycle wich meant that we had to be cautious here..
At this point I think we have a clear setup to jump in. With an invalidation if the market manages to close a week above the previous top and a validation if the market breaks down the wave 1 bottom.
The target depends on the subwave structure that will follow... but we can already speculate on two hot points... one at 100% of wave A and timing with the long term channel, the second at a 161% extension of A.
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators