Facebook t.a. and set up 9.16.19

Created this t.a. mainly to practice "early downtrend detection" but fb may be signaling a potential set up as well. Price is currently consolidating with easily defined support and resistance levels but it is also showing beginning signs of a potential downtrend formation based on the stock's history. Watching for strong break above or below support/resistance channels & trade the breakout

Note

1D chart, fb just hanging on by a thread. Still keeping an eye out for potential downtrend formation. EMA5 (short term indicator) is now pointing in a downward direction. Based on fb price history, multiple closes below the SMA100 may signal a pullback to the SMA200

Note

Watching for price break below the EMA10 on the daily. Still range bound in that channel. No clear trend direction yet.

gaaragaara

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