After a double touch of the Fibo level 50-61.8, the price achieved to break the last resistance following the uptrend, giving us a perfect area to protect ourselves and place our stop loss.
Ratio risk reward -> 1:3
Let's see how it's developes.
Perfect uptrend since May. Multiple tests over the past few months. 7 to be exact.
Here we are now again. The last session left us with a Doji candlestick pattern just under MA50.
This Sunday, Republican and Democratic party leaders announced that a deal had been reached for a new stimulus check. There are enough votes for a majority approval this Monday on...
Facebook - Buy now valid
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy,...
Bearish prediction for Facebook stock ahead of earnings. I think the resistance line I've marked will be tested again, followed by a bounce, and if the earnings report is good we could see the previous gap get filled. This is supported by the RSI indicator.
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