FB.US – D1 Our expectations:
Upward trend and short-term correction. End of correction after failed support breakout attempt. The movement remains in the trend channel. A retest gives a good opportunity for aggressive entry with near stop.
Correction 23.6% Fibonacci.
Test of 50SMA, price above 200SMA, MAs in the bull formation.
DeMarker, turns above 0.3 – a signal for increase.
Alternative scenario: Break below 200 would mean a new bottom and a deeper correction.
Trader Georgi Bozhidarov