I still like it on the daily to possibly test the 20 MA to the
upside before deciding what it will do next. On my chart, it has
just broken out of a descending wedge with + div on the daily.
That said, the current daily candle really presents a
strategic short in a clear down trend. All you need is a
plan. I'm banking on the bottoming candle formation to take
it a little higher...but who knows.
FB...No crystal ball but
FB after a good bounce . Any thoughts here about a short?
Posted by johnc on 6th of Sep 2012 at 02:25 pm
I still like it on the daily to possibly test the 20 MA to the upside before deciding what it will do next. On my chart, it has just broken out of a descending wedge with + div on the daily. That said, the current daily candle really presents a strategic short in a clear down trend. All you need is a plan. I'm banking on the bottoming candle formation to take it a little higher...but who knows.
Time frame makes a difference.
Thanks johnc
Posted by rbreese on 6th of Sep 2012 at 03:21 pm
Thanks johnc