Facebook (FB) Technical Analysis 31 July 2018 - Planning a Long Trade
After the huge loss, it's time to consider what to do with FB. Should we follow the massive down-movement with a short position? Should we take advantage of a cheap price to buy?
My idea is that long positions offer a better opportunity in terms of risk to reward ratio.
The orange line represents the level where usually buyers found convenient to take their profits, so we can place a take profit around $220.
The red line represents last significant low. I want to place my stop loss right below that level, so $145.
With a market order at this price, you would get a risk to reward ratio of 1:1.7.
My suggestion is to wait for a price of $170 to get an RR of 1:2.
Indicators have a slight preference for short positions, but I must say that usually indicators are not so helpful in these situations.
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@Steemcleaners is an abuse of power, the source is nothing like the one posted. I think if anything the disclaimer is the same, and that's pushing it as far as plagiarism
C'mon guys, this is nuts. You're beating people up and all too often it's senseless. This time you're dead wrong. The source has nothing to do with the topic at hand. You're chasing good authors away from Steem with your bullying.