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FB - It has completed (X) wave in double zigzag and dropped in (Y) wave as first impulse cycle as A wave. Wait for corrective bounce B wave to get in to trade for C wave down of (Y) wave. Let's see how it moves within B wave.
hi CW - you really think FB will drop? seems very gung ho going into earnings..
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@cher9al, In EW theory, the irregular waves are difficult to identify more often. The drop seems five wave, which was actually the C wave of X ( irregular cycle) instead of wave A of down cycle.
So currently price is in up move of Y wave and unfold probably in three waves as ABC, where A wave is in progress.