FB final stages

Updated

Anticipated that FB would have fallen harder but there seems to a strong resistance for a correction. Now observing the corrective behavior, there seems to be 2 possibilities as always.

What we have is either a C wave unfolding or an wave 3 waiting to breakout (but wave 3 happens fast so i'm not sure of wave 3 - should have been immediate)

Option 1) C (ending soon - certainly looks like an ending diagonal) to close the gap to 166.37.

OR

Option 2) 3(should be a big move down to 155 area).

Next week will uncover the markets intention. Find the right options trading strategy with this in mind.

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The gap to 166.37 is closed. Watch the sentiment. If it continues negative we may see 162.5 and 160. The daily charts show buying opportunity but i'd wait to see whats playing out.

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I couldn't catch this wave as i expected it to retrace for an entry. I'm now suspicious of a fake rally.

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At this point i'd patiently wait to see how far FB will rally and observe the patterns carefully to determine what king off position to take. To be continued...

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This rally may be an awesome trap because of the way its taken off without sufficient market participation i'd think. For those who got in great and take a couple of hedges. For those who couldn't participate i guess take a few cheap near term puts to make a days meal i guess. Still waiting to see a clean structure for this rally to make a sensible decision.

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These are the good days for longterm holders to sell.

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Looks like the hunch was perfect on point. This next round of selling should start soon.

resurrector007

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