I saw many traders that going for long on FB because the EMA50 acting as a support and last Friday FB touched that line. But I thing FB is going to be bearish for a while , the trade line is broken with high volume of sellers . We are now at FIB 0.236 and we have more room to go down to FIB 0.382 where we have more volume of money and the EMA 100.
Did you consider the news that Zuck sold off 77k of his shares? Also, the third friday, quad Friday, of each month tends to have higher volume. I think the bears went ahead and sold off their orders because they for the next few weeks the bulls will push it up to $400, but I guess we will see tomorrow.
orimichaeli
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@christianmartin4746, I have no position now . the channel is broken. now technically, we need to see attempt to return to the channel.
If i will see rejection, i will take the short.
christianmartin4746
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@orimichaeli, Hey, you should check my video, and first chart, on FB. I mentioned how I expected to fall and look for reversal around 16/17. I think we are about a month away from corrections