I am looking to short Facebook this week, Personally I do not like the software and the company is under constant complaints, and now Trump is tweeting negatively about it. I see price has hit a resistance level, I'll have to see where the pivots adjust next week, the RSI is overbought on the daily, MACD divergence present. Within this distribution phase, there is a shooting star (always nice to see), we also have the psychological level of $200 that will provide resistance to the buyers. Price has gapped, I'm going to surmise it's an exhaustion gap (can only be determined in hindsight) 1% Risk, 2:1 RR - Happy Trading!
Commentaire:
The highlighted gap has closed, not the most encouraging sign for the bulls.
Transaction en cours:
Just tumbling to our target.
Trade fermée: cible de profit atteinte
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.