9889jr
Short

Wave count and Fib. levels

NASDAQ:FB   FACEBOOK INC
221 3 3
I expect a short term pull back and will begin building a long position between 55 and 60
In my opinion... for those who are long FB, a close below the low of 3/28/14 in the amount $59.33 and a long legged doji tomorrow will result in a long black candle on Monday possibly reaching a gap fill of $55.00
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What chart is this...FB filled that gap yesterday
snapshot
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9889jr mike.ship.9
Mike, it is a daily chart. I should have labeled the wave count but I thought it was a bit much to incorporate so I identified the dates and retrace levels. The gap fill you are referencing is a support level which did hold. Elliott Wave C dictates a 61.8% retracement of wave A leading FB to fill the 1/29/14 gap $54.95. Is it a coincidence? Maybe!!!!! but I have been doing this for 20 years and follow WD Gann. I will overlay time and price analysis next go around which confirms the Elliott wave analysis together with the fib. numbers. Major turn date of 4/15/14 where time meets price.
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