This shorter-term chart of AAPL is setting up for a high probability trade to the short side, IF AAPL CAN CLOSE BELOW 242.00 in the days ahead. AAPL 120 Minute A close below 242.00 takes out the low print of 11 of the past 12 price bars as well as generating the first close below the upward sloping channel from early November. Initial price target would be 230-200 (August Wave 4 low = $196). AAPL Daily It's possible AAPL has made a Wave 5 top at multiple degrees of trend. If so, initial leg down could drop to area of previous Minor Wave 4 on August 5, 2024 @ $196. AAPL Sell Pending On any day that it appears that AAPL will close below $242.00 we will be buying the Feb 21st $235P, currently at $4.16: Any of the three puts would do, we are looking for a minimum of 3X to 5X on this trade.
