nmike

FB cloning (over bought)

BATS:FB   FACEBOOK, INC
876 7 4
A red candle at resistance and a close back in reference channel. Watch for price to correct to top of reference channel 2.
If resistance is broken, near term target is the top of clone 1.
..when you see a DOUBLE BREAK FAILURE at channel top with negative divergence it's time to sell your longs
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DOUBLE BREAK OUT FAILURE + NEGATIVE DIVERGENCE, this not good news for the bulls
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...this chart set-up is working nicely, just broke CLONE 1 , next target is top of CLONE 2
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CLONE 1 reached....next stop, top of CLONE 2
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above resistance, next target, top of CLONE 1 and or last pivot high
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...NICE and simple....no fundamentals and no Elliot Waves..
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thought it was getting a bit ahead of itself
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