Monday, June 18, 2012

FB follow up

As you know, it take several minutes to capture charts, upload and post them, since the last post, FB has started pulling back intraday, the 1 min divergence could also lead to a consolidation, but it is getting a bit deeper and starting to show up on the 2 and 3 min charts now.

 The FB pullback intraday (1 min chart).

 3C FB 1 min from confirmation to a negative divergence which is leading negative.

The divergence is just starting to show up on the 2 min.

If the divergence continues to strengthen on the 1 min, the 2 min will get more negative and the chances of a pullback will be greater. All in all I still like FB a lot as a speculative long, I just prefer to let the trade come to us rather than chase it.

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