I have reason to suspect that Facebook may form a major low with yesterdays low around $22.30. If we do not see confirmation of this buy a strong rally emerging, next level I will be keeping an eye on is around $16.90.
Following some number crunching for a potential time target...
14th August 2012 is what I concluded with.
If Market hits 16.90 on 14th August, will be looking for a turning point
max_andronichuk
⋅
Fast approaching that 16.90 mark!
This will be interesting
gogg
⋅
Followed.
BuffaloBill
⋅
Followed.
max_andronichuk
⋅
Inside day today...
ideally I would look to buy on a move above yesterdays high ($24.50) with a stop placed bellow yesterdays low ($22.30).
Hoping for a strong rally tomorrow :)
traderx
⋅
Ok, so you said 16.90 on the downside then? I'm a buyer if it reaches there. Anyways, I will be interested in knowing how you come up with those levels. Any systems fail some of the times so no hard feelings. Thanks for sharing your thoughts.
max_andronichuk
⋅
Oh it's not a problem for me, like I say, I'm experimenting with some of these techniques at the moment.
I'll probably publish them in detail once I manage to articulate the method clearly enough in writing (it's in my head, but difficult to articulate at the moment)... unless some Miracle rally occurs tomorrow... 16.90 is the next place I'll be watching
traderx
⋅
Based on what? just your hunch or there is some substance behind your theory
Please feel free to check out my video on Gold, Silver, SP500 and Facebook here
youtube.com/watch?v=AjWMvEn8_pc