The salient characteristics for entering into a short position on USD/CHF on the 60 minute chart have to do with a pullback in play on the daily timeframe. Price action, on the daily chart, has hit resistance at ~0.9210 and is overextended above the key moving averages. RSI shows bearish divergence. Additionally, price has touched the Fibonacci extension level of...
after price has tested supply zone twice or thrice—and buyers have flooded the market—selling pressure could cause a pullback to blow past the 61.8% retracement to the demand zone.
Could Facebook stock drop to $50??? It might be too early to tell, but if price action doesn't make a new swing high above C leg, then this pattern may have high probably of completing. Bearish divergence on the RSI extending from July 13'. A GrandSuper Cycle wave 3 confirming the down trend which peaked at price $72.73. $FB is now showing signs of a bullish...
Different entries and playbook trades that make sence for me with comments on the chart.