YES, indeed FB broke out of previous high of 82! Well done
But:
If this channel analysis is valid, FB has been engaged in this blue channel since July 2014, and price decided to take thing to its own hand, it has thus aboard with the purple accelerated train and it is about to hit the blue channel top!
Base on the past pattern, i see a bump & dump, a fake out, another bump dump, what happen to price when it hits the channel top this time? Fake out?
When is the exact time to short, need to monitor, the best is to use 10mins and 60mins to confirm for bearish divergence.
Assuming a vertical price movement it could see it hitting between 86-88 by next week, fingers cross
As for the target, the first will be the median line of blue channel, another one will be channel bottom.
But:
If this channel analysis is valid, FB has been engaged in this blue channel since July 2014, and price decided to take thing to its own hand, it has thus aboard with the purple accelerated train and it is about to hit the blue channel top!
Base on the past pattern, i see a bump & dump, a fake out, another bump dump, what happen to price when it hits the channel top this time? Fake out?
When is the exact time to short, need to monitor, the best is to use 10mins and 60mins to confirm for bearish divergence.
Assuming a vertical price movement it could see it hitting between 86-88 by next week, fingers cross
As for the target, the first will be the median line of blue channel, another one will be channel bottom.