paulyberndt
Short

FB Short Daily

NASDAQ:FB   FACEBOOK INC
245 3 2
FB             continues to sell off and made a failed high.
currently the Awesome Oscillator has turned red and
this is an add on point to add more capital to the trade.
Placing sell stop 2 ticks below todays             candle.
There should be buyers @ 51.56 area however
if it busts through that my next target is 43.62..
using a deep in the money 80 delta July put
Basically its like a MACD only it uses the 5-34 simple moving average and measures the compression or expansion of those moving averages. For me its easier to read than the MACD as the bar is easily visible of slowing momentum. Very close to an Elliot wave oscillator too. Its part of the Bill Williams trade system.
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Does the indicator basically add/remove a % to the bar basing on a gree/red day?
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yes I agree with u nice chart
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