Facebook – arranges setup for the a trade

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.

SL: 200

Alternative scenario: Break below 200 would mean a new bottom and a deeper correction.

 Trader Georgi Bozhidarov

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