FB - future uncertain

FB

$17.55 to $30.56 - corrective formation, probably double combination, could become triple combination. Current decline could be the second wave (x) to form triple combination or start of the new formation of the
same degree as double combination.

Future uncertain here. The only thing that matters right now - impulse waves head down. It means we are in downtrend.

Facebook - bigger picture

FB - long term

Looks like double zigzag took place in wave 4. Here is more detailed count on sub levels.

FB - lower time frames

Facebook - last race before correction

Facebook going to climb wave 5 now. Not sure if wave 4 already finished but time-price balance looks fine to me. Even if no impulse follows wave 4 we must have some pull back (wave 2 in alternative scenario or wave X).

FB

Trading strategy:  Buying near vertical spreads