Facebook FB - How low can it go?
Facebook's price has fallen off a cliff and attempting to buy a falling knife dropping this fast is dangerous.
In the past, FB has responded well to the 200 week moving average (white moving average) although it tends to fall below it 10-16%.
All time frames are certainly bearish, but if history is any indicator, FB may be nearing a bottom. Regardless, it's best to wait for a bottom pattern to form on the 4hr or daily time frame before attempting to go long.
In this analysis, I simply wanted to mark where a bottom could form which is anywhere from now to 10-16% below the 200 week moving average.
In the past, FB has responded well to the 200 week moving average (white moving average) although it tends to fall below it 10-16%.
All time frames are certainly bearish, but if history is any indicator, FB may be nearing a bottom. Regardless, it's best to wait for a bottom pattern to form on the 4hr or daily time frame before attempting to go long.
In this analysis, I simply wanted to mark where a bottom could form which is anywhere from now to 10-16% below the 200 week moving average.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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