Yesterday I answered several emails about FB, the price action yesterday wasn't of much concern to me, the break under the wedge and its ability to bounce back quickly over $17.80 is what I was focussed on and relayed that to members, this morning it is thus far looking like a good set up, what I had expected and hoped to see.
So far we have a 4.3% gain on the day, but it is the move above $17.80 that I'm most enthusiastic about and how quickly it bounced back above that level.
The wedge with a slight move under the wedge yesterday in yellow.
A very flat range with a rising positive divergence under the wedge was encouraging, but price above $17.80 was the key move.
3 min leading positive yesterday and today.
5 min leading very positive, nearly vertical.
We'll have to wait for longer charts to catch up, but so far, I like what I see since we identified the bullish descending wedge.
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