FB Update

Still long FB and fine with it.

Ever since an initial quick long trade in FB that I warned would likely be short lived at the start of August, BECAUSE I thought FB was most likely going to create a base, we've been watching FB for signs that it is doing that. This short term 1 min chart shows us a positive divergence (accumulation) in to a pullback move.

 As does this chart with a leading positive and getting stronger recently instead of at lower prices, which would hint to me FB is closer to a breakout move up.

If you recall, at the time back in June, FB had one of the strongest 60 min positive/leading positive divergences that we could find anywhere, it led to a fantastic long trade (calls), now that same divergence to the left doesn't even look that impressive when compared to now, which shows a large 60 min positive divergence with price at lower levels and 3C at much higher levels. When we entered that early August long, I warned it would likely be short lived, there wasn't a base large enough to support much of a move, that has changed significantly a this base rivals the first time we went long in June.