QuantitativeExhaustion
Short

Bet the Farmville and short Zynga

NASDAQ:ZNGA   ZYNGA INC
1695 24 24
Looking to enter in a Long Put option trade tomorrow with Zynga             , ZNGA             . Looking at the chart we see CCI (50) divergence that's been trending for several weeks. @nmike also pointed out the obvious Fisher Spike after we saw double divergence with Fisher and CCI divergence. This is a great combination of indications to suggest a bearish move is in the works. On the 5 min chart, I saw an indiation that we could bounce in the short term. I will be looking to fill my put orders if we do see a positive move to the .382 fibonacci level within the recent low-high, $3.77. The Gann Box was used to illustrate a clone with the recent low-high. A cloned Gann Box beneath the previous low-high, takes us to the 3.00 level for a final target. However, I will be watching the previous low and the .50 level on the lower cloned box for a possible bounce. I wanted to try the Fibonacci timing tool. For this to work, as Fibqueen uses it, you need to find symmetrical moves and apply the fibonacci timing tool for each high-high, low-low, low-high, high-low, in oder to find clusters/confluence areas of fibonacci extensions.

Remember anything is possible, so if we see a higher high ~$3.90, all bets are off and this trade is nullified.
Nice Call!
+1 Reply
Nicely done .......Fisher 34 & CCI 50, powerful dual :[)
+3 Reply
Yep! Works well. High % follow through with pattern/fibonacci, CCI divergence + Fisher exhaustion
+3 Reply
Nice Trade!
+2 Reply
Thanks! Diamond Pattern
+3 Reply
Great commentary always fun to view how other traders see the market.
+2 Reply
sublimares2 QuantitativeExhaustion
ZNGA has a bullish pattern 5-0 formation. It is forming the leg D at 50% retracement of BC (in this way the price is also in equillibrium, according to Ichimoku:) ,adding just one reason more for the retracement.
snapshot
+3 Reply
Does the 5.0 work if we break below 3.36?
+2 Reply
sublimares2 QuantitativeExhaustion
This pattern must have a 50% retracement BC and AB=CD. This two levels are not always the same and this is the spot (PRZ) where a failure can happen. In this case, the fibo 50%BC is @3.34. The price label is not exactly when attached to the line (if you see the label on the above chart). However, there are few resistance (daily chart) and the pivot 3.64 must be cleared. One, two trading days can make a difference in chart:)
+2 Reply
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