QuantitativeExhaustion
Short

FB Triple Top Pattern

NASDAQ:FB   FACEBOOK INC
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617 14 26
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Triple Top Pattern

FB             is displaying a triple top pattern. We can see three highs within a 10.5% range. Resistance is set at $82.00 and support at $73.35. I have also included a horizontal channel to display the midpoint, where we can also see a support/resistance held within the triple top pattern. I added a clone underneath, because this is where we could also find support for the midpoint around $69, and the ultimate prize at $64.70.

Where this trade could go wrong.

If FB             breaks above the previous high (2nd peak) by 3%, we would no longer have a triple top pattern. It is possible the third top does hang closer to the $82 mark and above midpoint. Our first peak undershot it's target, so in cases like this we see a longer/upward trending 2nd or 3rd peak.

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Marvelous JR
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+4 Reply
Yes you also have that diamond in development.
+3 Reply
I like your thorough criteria on your triple top set ups.

Thanks JR
+1 Reply
Thanks JR. I noticed harmonic move on weekly too Some time ago.
#FB #FACEBOOK Short Idea (Bearish Divergence)
+3 Reply
I remember that too.
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TradeYodha PRO QuantitativeExhaustion
Oh great. :) thanks
+2 Reply
You could have a called it a double top and sold it 81 or above. Why sell it now?
+2 Reply
Well you're right, could have. However, I'm looking for timing the larger drops rather than exacting a top or bottom.
+2 Reply
all soon be SHORTS... since profits of companies would not hit the numbers...,managers would short USA.
+2 Reply
jinx ozatrading
This one broke resistance and stops. FB parabolic
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it hit 84.96 intraday
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+3 Reply
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Another perspective, FB looks to end up in tears.
I can see it going to as low as 60 like Tesla.
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We might get one more final push before going lower.
+2 Reply
Yes, i think so too
87-88
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+3 Reply
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