TraderHank’s FB trade is a textbook use of multiple time frame analysis

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Honestly, with a large gap up in the market today, I found it difficult to come up with a good play this morning and was surprised at the setup that Facebook gave me starting on the 5 minute chart.  I found FB on my daily watch as a possible daily buy which triggered as FB gapped up this morning triggering the PBS.  I just needed a pull back which price triggered at 10 am reversal time on the 5 minute chart.  I bought with a small lot hoping to get a chance to add to may play as price proved itself.  A few minutes later FB's 15 minute buy was also triggering so I added to my play with a full share size.  When you get both time frames to line up and trigger independently, increases the odds in your favor that price will continue higher and that is exactly what happen as FB began it's flurry upward hitting my first target at the high of the day @ .72 and hitting my 2nd target @ .86,  both targets allowing me a chance to sell 1/3rd of my shares at each location.  I had a third left but as we were heading into lunch time on Wall Street, I decided to dump my last remaining shares, my thinking was that the market would probably fade during lunch not helping my FB trade and I really was in the mood for a early morning nap...   

FB 03042014
FB 03042014
FB Daily 03042014
FB Daily 03042014
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