Facebook Trade is Heating Up Again! Next Levels.
$FB Facebook 0.78% long side trade from 153.40 Mar 28 buy side trigger now testing buy sell trigger 167.51
The Facebook 0.78% wash-out snap-back trade has been one heck of a profitable trade for our group.
When this first set-up I alerted it a number of times in different ways on different platforms – I even texted people and sent private messages. I was screaming this from the rooftops (look at my Twitter feed, Trading View account, StockTwits account or our alert feeds on Twitter – screaming this).
As time goes on in your trading life you learn over and over again how this particular type of set-up has profit written all over it. The secret however, is knowing where your trading chart structure is in advance of trade getting to that area of restructuring after the wash-out. Knowing that is key.
Knowing your support and resistance points, your trading range and the time cycle peaks and potential targets puts you way ahead of your competition (the other traders) – and that is key to winning.
Another key becomes trusting the process… but that’s for another day.
Here’s the charting and below that is the new technical set-up with buy sell triggers and price targets with time cycle dates.
Facebook New Buy / Sell Trigger Here Now. See Chart Notes. by curtmelonopoly on TradingView.com
So whats next in the Facebook 0.78% trade?
If you got in near the first buy / sell trigger point at 153.40 on March 29 you are sitting pretty – you’re up big. So you want to watch this test area in and around 167.51. This is a major structural decision – a major model trading pivot / mid quad.
Above 167.51 buy / sell trigger (and it holds) price targets 173.55 then 174.18 then 178.30 and finally 181.63 on April 17, 2018 (approximately).
I’ve marked every upside resistance test on the chart for you with yellow caution arrows. The 100 MA (blue), 200 MA (pink), Quad wall (diagonal Fibonacci trendline resistance – dotted blue line) etc.
If price becomes range bound, the sideways target is also on the chart.
I haven’t charted the downside in detail but there is enough there to know where your supports are etc. If the downside occurs you can bet I’ll be all over alerting the set-up again.
Congrats longs! Glad this one worked out so well for the team.
For more detail on the time cycle peaks for your trade, price targets, and support / resistance points relating to your personal trading plan contact me with any questions you have.
Best and peace!
Curt
PS Remember to trade price – if the trade goes against you it is always better to take a small loss than be married to a bad chart / stock.
I will be live broadcasting this trading set-up and other chart set-ups documenting my process in detail for review w/ daily PL’s, video, charting set-ups and alerts.
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