FB is not my favorite share. Fundamentally I do not understand its value. Totally not. Then the late IPO, tons of pre IPO VC investments, employees loaded with shares. A lot looking for profitable exits. So this should be a share, that could be hit hard when the tide will go. But maybe not yet.
The patterns: the inner structure of the wave show a nice likelihood of at least a retracement to about 61 or so. Judging from how that looks there is room for 44.
What could I trade? If not over 71,50, I would wait for a little impulse wave down. Hopefully a retracement shows, to give the short a nice Risk-Reward-Ratio.