Facebook Major Low? Experimental Gann techniques

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I have reason to suspect that Facebook             may form a major low with yesterdays low around $22.30.
If we do not see confirmation of this buy a strong rally emerging, next level I will be keeping an eye on is around $16.90.

Lets see what happens :)
Based on what? just your hunch or there is some substance behind your theory
The lines on the chart are produced using some techniques which are associated with the works of W.D Gann... I am not about to reveal this here just yet...

But as I say, there are two clusters that have been produced as possible turning points for this market, the second being $16.90 mark.

Another Gann prediction has been posted for the Silver market earlier today, please feel free to have a look at the levels indicated there (and dates)...

As I say, it's experimental at this stage, but hopefully time will tell if the markets do actually respect these levels
traderx max_andronichuk
Hmm.. lets see how it goes. My theory is that it will go down more before it goes up. There is panic creeping in and people who bought even before IPO on things like second market and even employees must be thinking to get out.. so overhead resistance will be a major factor.
I'm pretty contrarian... when everyone starts trying to sell something is when I look at it with an interest in buying :)

We will see... like I say, if it does go lower, next point I will be looking for a reversal is $16.90 mark...
My stops are pretty tight on this one, so I hope it rockets :D
gogg max_andronichuk
It would be really interesting if it goes up:) What is your target?
None as yet... although once I see a rally start, I will be able to in advance publish potential resistance levels using the same techniques... at this point it is a tad premature (although still doable)
Inside day today...

ideally I would look to buy on a move above yesterdays high ($24.50) with a stop placed bellow yesterdays low ($22.30).

Hoping for a strong rally tomorrow :)
traderx max_andronichuk
Ok, so you said 16.90 on the downside then? I'm a buyer if it reaches there. Anyways, I will be interested in knowing how you come up with those levels. Any systems fail some of the times so no hard feelings. Thanks for sharing your thoughts.
Oh it's not a problem for me, like I say, I'm experimenting with some of these techniques at the moment.

I'll probably publish them in detail once I manage to articulate the method clearly enough in writing (it's in my head, but difficult to articulate at the moment)... unless some Miracle rally occurs tomorrow... 16.90 is the next place I'll be watching
Fast approaching that 16.90 mark!
This will be interesting

Following some number crunching for a potential time target...
14th August 2012 is what I concluded with.

If Market hits 16.90 on 14th August, will be looking for a turning point
Why 19.60?

Please feel free to check out my video on Gold, Silver, SP500 and Facebook here
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