Investors not happy because of FB's latest move regarding AUS?
This is a Daily chart of Facebook Inc.
A couple of chart patterns to observe here:
1. It has broken down from a symmetrical triangle, retraced, and now heading down.
2. It is also an inverted cup & handle pattern.
Although it has still in an uptrend, I will prefer to exit any exiting trade and wait for it to head down lower to target profit 1 and/ or target profit 2 before re-entering.
Target profit 1 is support + a 50 moving average level on the Weekly chart.
Target profit 2 is support + a 200 moving average level on the Weekly chart (it should move up to that level with time or near it).
If you're a short term trader, you will have to find a better entry timing as putting a stop loss will prove a challenge unless you are willing to accept lower risk-to-reward.
If you have any symbols that you would like me to analyze, feel free to leave a comment!
*My apologies! I forgot to switch it back to the Daily chart. I don't know how to change it back as I'm still new to using Trading View.
A couple of chart patterns to observe here:
1. It has broken down from a symmetrical triangle, retraced, and now heading down.
2. It is also an inverted cup & handle pattern.
Although it has still in an uptrend, I will prefer to exit any exiting trade and wait for it to head down lower to target profit 1 and/ or target profit 2 before re-entering.
Target profit 1 is support + a 50 moving average level on the Weekly chart.
Target profit 2 is support + a 200 moving average level on the Weekly chart (it should move up to that level with time or near it).
If you're a short term trader, you will have to find a better entry timing as putting a stop loss will prove a challenge unless you are willing to accept lower risk-to-reward.
If you have any symbols that you would like me to analyze, feel free to leave a comment!
*My apologies! I forgot to switch it back to the Daily chart. I don't know how to change it back as I'm still new to using Trading View.
Comment:
(Disclaimer: not giving any trading & investment advise. Just sharing views)
Comment:
Would like to see today ends up a doji and head down tomorrow.
If it doesn't, then the setup might be invalidated.
If it doesn't, then the setup might be invalidated.
Comment:
no doji but setup still valid.
Looking forward to hitting profit targets!
Looking forward to hitting profit targets!
Comment:
NASDAQ turns bullish today.
Chances are the smart money is buying again!
Chances are the smart money is buying again!
Comment:
Been trading side ways for 2 weeks. Setup still intact for now
Comment:
If price peaks above $267 then this setup is considered invalidated
Trade closed: stop reached:
Did peak above $267.
Although it still look bearish but it is what it is.
Although it still look bearish but it is what it is.