Facebook Day Trade 6-11-18
Today our co-founders took the same trade at the same time unbeknownst to each other till the trade was nearly over. Ben, illustrates the trade on the 5 minute Facebook (FB) chart here. Pete used the hourly chart and saw that the first hour bar price action engulfed the prior several hours of trading price from Friday (today's opening bar had a lower low and a higher high than those bars. When the stock pulls back into that bar and then shows strength, you want to play the break back out above that first hour. We frequently make the same play because we were trained in the same method of modern Wyckoff price-volume analysis. Many of our best techniques are illustrated in easy to understand form in our Gold Level Membership video library on our website.