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FB - Detailed Analysis on Descending Broadening Wedge Pattern
Updated
FB is making higher lows on RSI and MACD has been oversold for quite some while now. On 16 November the overbought from last uptrend to ATH will equal the time spent being oversold (could be reversal point). Furthermore, FB is in a Descending Broadening Wedge pattern, these tend to be bullish (partially confirmed by the weakening selling strength on RSI). Within this wedge, it has completed an ABCDE corrective wave hinting that wave-wise we could have hit bottom for now.
FB is also on support for the All-time-low historical logarithmic channel. Based on this make it an interesting opportunity to buy once we get confirmation that it breaks up the broadening wedge pattern.
Hope you enjoy charts like these. If you have any ideas on this please leave a comment/like or share.
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-TheTrex
FB is also on support for the All-time-low historical logarithmic channel. Based on this make it an interesting opportunity to buy once we get confirmation that it breaks up the broadening wedge pattern.
Hope you enjoy charts like these. If you have any ideas on this please leave a comment/like or share.
For more exciting signals check out my signature on my page to my social media groups.
Good luck trading!
-TheTrex
Note
Descending Broadening Wedge PatternNote
FB Weekly Logarithmic All-Time low channel, closing above at the moment. Note
A possible H&S pattern could form in the future like this based on the resistance channel. Note
More detailed daily chart (logarithmic) with the resistance channel for the potential right shoulder. 
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