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Does AAPL have C point in?




AAPL completed a small bullish Butterfly (blue) to form a potential C point. The thing about valid C points is they give directional bias to retest the B point. 

Aggressive long entry would already be in a long position. Conservative long entry is a close and test above the trendline because this is a strong resistance region -- this is not the place to enter a long position. 

If price cannot push through the trendline that happens to correlate with the 50 ema for confluence, then the C point could still be forming, meaning the anticipation is a retest of current potential C point or a retest of the previous low at 501.23. 

Here’s the kicker, if price cannot hold above 501.23, it invalidates the 2 emerging patterns (Gartley and Butterfly) and 501.23 becomes the line in the sand.