I think I mentioned this in the post yesterday responding to a member who wanted to short FB for a pullback move, I'll look at the post later, but the area that would set up a head fake move before a reversal is above $28.88. FB's 1 min is pretty much in line with today's intraday move, but everything beyond that is negative so I would watch very carefully for a break above that level as it is probably a head fake and a warning of the downside move to come. If you are long FB still or are considering taking partial profits as FB is a longer term trade, I would strongly encourage an intraday trailing stop, but make sure it's wide enough to allow for consolidations.
I'll get charts up ASAP, after the other ones I need to get out.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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