FB Trade Setup - 1/8/2015

Here is a swing long trade setup for FB. This setup is based on a bounce of support from the long term trendline and the breakout from the the engulfing candle high. The red dash line is a reference level for establishing stop, black dash line is the trigger level, and the blue dash line is a possible target level.

Note: at the time of this posting, FB has moved above the trigger level.


(click on the chart to enlarge)


Disclosure: No position.