In this blog, I want to share some short-term Elliott Wave charts of the Facebook stock which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 09/27/18 indicating that FB ended the cycle from 8/07/2018 peak low in black wave ((1)).
The internals of that move lower unfolded in 5 waves impulse structure with lesser degree cycles. Above from there, we advised members that it should see the equal legs from 8/07/2018 peak towards the areas of the 100 – 1.618 Fibonacci extension of blue (A)-(B). Which came at around 169.15-174.74 where black wave ((2)) should end. Therefore, we expected sellers to appear in the dips in the sequences of 3, 7 or 11 swings. And that was the first area for sellers to appear to take prices to new lows below black wave ((1)) peak or a larger 3 waves pullback at least.
Facebook 09.27.2018 1 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart, you can see that FB reached the blue box area (169.15+ areas) and pulled back lower and took price below black wave ((1)) low. Confirming that the next extension lower has started. So if traded our blue box area shown in the chart above. Any trades from that area were risk-free, which means the stop-loss should be moved to breakeven, targeting lower levels. Do please keep in mind that the 1-hour chart which I presented have changed already. The blue boxes you see in our charts are our so-called High-Frequency boxes. Where the market ideally shows us a reaction either lower or higher.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our special promotion which we are currently running below.
Facebook 10.10.2018 1 Hour Chart Elliott Wave Analysis
I hope you liked this blog and I wish you all good trades and if you are interested in learning more about our unique blue box areas and also want to trade profitably then sign up for our Promotion and get 30% Discount on Gold and Platinum plans!!
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