FB Trade-Idea Follow Up

Yesterday I went ahead and opened a FB short equity position Trade Idea: FB (Short), today FB is down nearly -1.5%, however, much like NFLX, I think there will be another opportunity early next week if you are interested. As for the charts, not much has changed with the important ones so here's yesterday's post, FB Follow Up . FB would be another right shoulder entry like NFLX.

 Yesterday's entry had great signals, thus the decline today, but there's a lot more downside to go.

Around the same area the averages have a little bear flag, FB is in line.

On a 2 min chart, there's a clear negative in to yesterday's highs and a small positive in to today.

This tells me that a small bounce, likely still forming part of the reversal process, not so much about price, but time, is likely, that means FB should offer 1 more chance at a choice entry.

 This is about as far as we go, 3 min relative positive (weakest form of divergence),

As far as the 30 min, it added some additional damage today, but for the most part it seems like an op-ex pin.

I'm seeing a lot of assets that look similar to this so while I do want exposure, I can be patient for another day or two.