Facebook > Buy The Breakout
Updated
Hi traders,
As many of you will know i predominantly trade Forex, however when an opportunity comes along where i feel my portfolio can be diversified slightly i am more than happy to execute.
I have been watching Facebook since 06.01.2017 when price broke and closed above the Daily EMA, this isn't all i was watching but for me confirmed a bullish long term outlook.
We now have a textbook consolidation period dating back to 27.07.2017
I will be watching over the next week if / how price reacts to the Daily EMA & 38.20% Fibonacci retracement.
I will be keeping you all updated as we progress.
Have a great week.
As many of you will know i predominantly trade Forex, however when an opportunity comes along where i feel my portfolio can be diversified slightly i am more than happy to execute.
I have been watching Facebook since 06.01.2017 when price broke and closed above the Daily EMA, this isn't all i was watching but for me confirmed a bullish long term outlook.
We now have a textbook consolidation period dating back to 27.07.2017
I will be watching over the next week if / how price reacts to the Daily EMA & 38.20% Fibonacci retracement.
I will be keeping you all updated as we progress.
Have a great week.
Note
A perfect breakout, a retest is now expected before a further push towards 180.00Note
Deceleration starting to occur, a minor pullback is now expected.Note
I will now awaiting a deeper pullback prior to the next impulse.Note
For me this stock is becoming more and more interesting into this year, i will be breaking it down in more detail in the coming days as i see multiple trade opportunities.
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