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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….

This is just for education and this is not meant as any personal recommendations…Trade at your own risk
fb ascending

If you want to learn to trade I offer one on one private mentoring by the hour.
Andrew@trendfollowingmentor.com

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