FB - About to jump 50% soon? Get ready to buy next pullback!
Facebook is building a lot of energy since last year.
Many traders think it is going nowhere... nothing but choppy difficult sideways action for almost a year now.
Yet, we think we may see a nice pattern developing inside the "mess" of choppy price action.
We expect Nasdaq to pull back in the next few weeks, to correct the nice bull trend since the elections.
This could provide a very nice "buy price" for us down near the 251-255 range as shown.
This would complete the small (pink) Bat Harmonic pattern that we believe is setting up now.
Note the tremendous frustration with all the choppy price action circled in red.
This is a huge amount of energy building and building for an explosive move upwards in the future.
The Elliott wave pattern shown in (purple) is just a proposed trail for price to follow, but you get the idea, right?
The measurements propose a huge move up of $100- $125 this year... basically from the low 251-255 up to 375-385! area.
Along the way up, we could look for the (pink) bullish crab pattern to complete around the 341-342 area as shown.
We could see a huge 50+% move this year from the buy target lows!
If the calculations are correct, we could also see a powerful gap over the calculated (black) dashed midline (see small red circle)
If this happens it could be the powerful 3rd of a 3rd wave!.
We plan to buy lots of call options if price pulls back into the green buy box....
Lets see if this trade works and makes us a lot of money.
Many traders think it is going nowhere... nothing but choppy difficult sideways action for almost a year now.
Yet, we think we may see a nice pattern developing inside the "mess" of choppy price action.
We expect Nasdaq to pull back in the next few weeks, to correct the nice bull trend since the elections.
This could provide a very nice "buy price" for us down near the 251-255 range as shown.
This would complete the small (pink) Bat Harmonic pattern that we believe is setting up now.
Note the tremendous frustration with all the choppy price action circled in red.
This is a huge amount of energy building and building for an explosive move upwards in the future.
The Elliott wave pattern shown in (purple) is just a proposed trail for price to follow, but you get the idea, right?
The measurements propose a huge move up of $100- $125 this year... basically from the low 251-255 up to 375-385! area.
Along the way up, we could look for the (pink) bullish crab pattern to complete around the 341-342 area as shown.
We could see a huge 50+% move this year from the buy target lows!
If the calculations are correct, we could also see a powerful gap over the calculated (black) dashed midline (see small red circle)
If this happens it could be the powerful 3rd of a 3rd wave!.
We plan to buy lots of call options if price pulls back into the green buy box....
Lets see if this trade works and makes us a lot of money.