Facebook, 29 SEP - Elliott waves | Gann | Astrology $FB
Facebook appears to unfold in 5 waves to the downside (green count). Gann level 338 provided support during yesterdays selloff.
Further upside would indicate that wave (a) is potentially complete and we may prepare ideas to participate in wave (b). Higher entries keep us safe if our assumption is wrong, and they give FB time to further consolidate and improve our probabilities.
Should wave (b) unfold, we might target the 50-60% retracement of the previous wave at 366 Gann level (blue box), where the 20 Day MA is located as well.
If price declines further, wave v of (a) is not complete yet and we may look at the next Gann level 329 for potential support.
Mars continues to form a trine with natal North Node which can be interpreted as problematic, however Mars sextile to natal South Node on 1 OCT at 0.0 orbit adds a bullish element.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector to retrace the last selloff.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
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These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Further upside would indicate that wave (a) is potentially complete and we may prepare ideas to participate in wave (b). Higher entries keep us safe if our assumption is wrong, and they give FB time to further consolidate and improve our probabilities.
Should wave (b) unfold, we might target the 50-60% retracement of the previous wave at 366 Gann level (blue box), where the 20 Day MA is located as well.
If price declines further, wave v of (a) is not complete yet and we may look at the next Gann level 329 for potential support.
Mars continues to form a trine with natal North Node which can be interpreted as problematic, however Mars sextile to natal South Node on 1 OCT at 0.0 orbit adds a bullish element.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector to retrace the last selloff.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Futures and Crypto broker
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
www.deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.