FaceBook Symmetrical Triangle Potential Breakout
Facebook has an interesting setup for today. Clearly Facebook is in an uptrend. As shown in the diagram below it is attempting to breakout of a symmetrical triangle. When I trade setups like this, I use a tight stop ( the low of the prior bar). The pattern either works or does not. What is concerning is that the Nasdaq has had 9-10 up days in a row. A rest could be in the cards….
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