Facebook - Peak expected at 187.17

Facebook - Peak expected at 187.17 

Facebook has seen an amazing rally since the September 2012 low at 17.55. This wave [3] rally should be close to completion - Ideally near 187.17 for a correction in wave [4]. As wave [2] was a simple and deep zig-zag correction, we should expect a complex and shallow correction in wave [4]. The ideal target for this wave [4] correction is seen in the 114.77 - 115.93 area.

The corrective structure of wave [4] should be either a flat or a triangle consolidation. If the corrective structure proves to be a triangle, then the low will be seen early (likely in the A-wave down).

Short-term a break below minor support at 168.89 will be a good indication that Facebook has peaked in wave [3] and wave [4] is developing. So tighten up your stops and don't fall in love with Facebook at these levels.

Jonathan
2017-10-24
Your work is exceptional and glad I found you.
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...
Tommy
2015-02-26
Great call on nat gas

Just wanted to drop you a note to say great call on nat gas as it held 2.67

Great job.

Tommy