We had a pattern complete on the last day of trading last week. Before we had this , ANOTHER pattern completed before this on the 16th September. When the first completed we had a very strong move upward to almost a full retrace before we got a downside move, and even that wasn't much of a retrace.
However, on the completion of the second pattern, we have thus far only had a retrace which only just touched . for a tiny moment and now it looks as-though it's exhausted and is going to the downside. Lacking the strength that was shown in the previous pattern.
I also discovered that at the end of the channel there is a broadening ascending . The of the has currently acted as support and these usually result in downtrends. Is it to time to short soon?
A short to the bottom of the linear would be a first target, but if FB continues to drop below the hidden support line (thick red line) it will drop a lot further, and a lot harder.
The current candle formation for the last few candles was of a investor sentiment, and the final trading session candle of last week is a .
Good luck traders.