FB Megaphone

Facebook is making a megaphone pattern. Its Extreme upper Level is found at 215.5. Could be a Nice entry for short.
Comment: Indications that 215 will hit on earnings or day before
Comment: That is 27/28 July. Corresponds with a nice celestial event.
Comment: Ok, the 215.5 as indicated on chart is now hit. However, typical price now to dont reverse immediately, but make perhaps even a fake breakout (throw-over) as it reached the target some days early.
Trade active: Suspected this overshoot, so taking a position here at 217
Comment: As this is unconfirmed and I havent worked out the cycles on this trade (only relying on price and pattern), I have only a 4 % margin impact on this trade.
Comment: 7 % down aftermarket.
Comment: Closed position at opening
Trade closed manually: 350 % profit booked :)
Comment: By looking at price, I think there will be a time when Facebook returns to 209. But I will patiently await for either a new significant high for a short or for a significant low for a long. I am working on cycles at the moment, but that is very complex work that requires a lot of time and effort, so I will for now focus a bit on other assets in this regard.


I was adding puts at 218..the megaphone..bear divergences BOOM. Very nice. It was overdue
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Great Call Man
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Viking83 TexasTower85
@TexasTower85, Good good, it's a dogshit so it deserves to be :)
Serse Viking83

Spot on Viking! Congrats!
I was able to capture 1100-1200% profit off some puts based on this pattern (1.32 puts at 190 strike with 8/31 expiry).. what a surprise at market open when they were at 15!!
The megaphone pattern is showing up everywhere. Gold, Dollar, SOXX, FB, EWZ, many markets, under different time frames. It can be hard to trade (long and short) because of the descending nature when you'd go long and the ascending nature when trying to short. Apparently the big money loves them because they can shake the small fries out
Viking83 gghsusa
@gghsusa, Congrats on the trade :) I will look for more nice setups. I believe top is closing in on Amazon, so I will go short tomorrow there
gghsusa Viking83
@Viking83, You'll find one in soxx at this moment.. although #6 has already been touched. I've monitoring one I think has developed in gold: Might prove helpful in trading GDX, NUGT, DUST, etc.. Incredible to observe such patterns
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