TomHall
Long

Facebook > Buy The Breakout

NASDAQ:FB   FACEBOOK INC
Hi traders,

As many of you will know i predominantly trade Forex, however when an opportunity comes along where i feel my portfolio can be diversified slightly i am more than happy to execute.

I have been watching Facebook             since 06.01.2017 when price broke and closed above the Daily EMA , this isn't all i was watching but for me confirmed a bullish long term outlook.
We now have a textbook consolidation period dating back to 27.07.2017
I will be watching over the next week if / how price reacts to the Daily EMA & 38.20% Fibonacci retracement .

I will be keeping you all updated as we progress.

Have a great week.
Comment: A perfect breakout, a retest is now expected before a further push towards 180.00
Comment: Deceleration starting to occur, a minor pullback is now expected.
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very nice! Did you ever think about starting a telegram channel to notify about new ideas?
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TomHall TOP Elbarto1984
@Elbarto1984, There is something very similar ready to launch next week ( fingers crossed )
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If FB breaks out, doesn't it imply the rest of the FANGS will break out and other top Nasdaq leaders? They are all consolidating right now. Especially Netflix and amazon. And priceline. Apple and Google have been stronger of late. But usually FB and Fangs tend to move together. Right now they are all more or less consolidating.
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TomHall TOP josephtse
@josephtse, It's certainly possible, for me both in FX and Stocks i don't trade correlation i break down the charts and execute on them individually.
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nice bro
+1 Reply
TomHall TOP 420snoop
@420snoop, Thanks very much.
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I think short-term FB depends if the general market and other big tech pulls back during slow August season.
Otherwise, it will make a breakout.
+1 Reply
@SkyRock, I agree, we will see how it plays out over the coming weeks.
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Hi, may I ask which broker offers a good spread when trading Facebook?
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TomHall TOP chongyinliang
@chongyinliang, Hi,

It's unfortuantly not something i can advise on, however simply google it and you should get a good response including reviews.
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