Don't get me wrong, love the volatility with $FB. I was a dip buyer after the Cambridge Analytica & before the earnings so I rode this long to I think $185ish from $155 (old pennant pattern somewhere around my previous entry). With this setup though, I look @ it as a regime change seeing as how price dropped all the way below (black) 3 year WMA, now back on the come up. USUALLY, it's a blur from there. Most of the time I see equities more stable above it, before eventually dipping all the way back literally down to that WMA before a bullish continuation. I have a handful of references for a 'regime changes' using the 789 WMA as a benchmark, & essentially, most of them that stay ABOVE 180 WMA throughout a dip - tend to stay SUPER bullish throughout the course of their trend. Could be the case for $FB, eventually seeing 223% fib around $209 before seeing another dip (big or small). The long shadow candle I highlighted w/ the brush was a red flag for me though, just because I see it as a conspiracy of my own for future price movement. Long story short, for anyone short, this isn't the time. $209-$213 could come into a short position if it fits into maybe an earnings panic sell but, even then, that just looks bullish. I'd rather stay neutral but GL to anyone with a position!
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#WeEatinGoodOutchea