How we got almost 5x profit on Facebook stock

How we got almost 5x profit on Facebook stock 300 169 Minimalist Trading – Best Trading Indicators for TradingView

How we got almost
5x profit on Facebook stock

◷ Last updated

Introduction

Today we’re looking at another trading setup using our technical indicators, which are considered to be among the best indicators for TradingView. In particular, we’re using the Bottoms Tops Signal in combination with the Levels and Zones, and the RSI Exhaustion.

By using our best technical indicators for stock trading, we perform a rigorous Facebook stock analysis and identify a clear and very safe trade setup. In particular, we have a significant divergence between the price and the RSI Exhaustion, we have bearish exhaustion and we also have a series of tops, the last one being the one that we exploit to trade some Facebook shares.

Trade setup – 2 Oct 2019

How we got almost 5x profit on Facebook stock Setup 1

It looks like we have a trading opportunity on Facebook stock today.

Our trade setup is confirmed by the fact that:

    1. There is a significant divergence between the price, which goes down, and the RSI Exhaustion, which goes up.
    2. The RSI Exhaustion is bearish exhausted, which means that the price doesn’t have too much room to move any lower.
    3. We have a least one confirmed bottom

To set the stop loss and the target levels we exploit the major support and the major resistance indicated by the Levels and Zones.

Trade update – 2 Oct 2019

How we got almost 5x profit on Facebook stock Setup 2

The price moved lower to retest the support and it was to be expected because we know that the price always likes to test multiple times these major levels displayed by the Levels and Zones.

Right now it’s still in our stop loss area but the RSI Exhaustion is rising, and so the price should rise as well.

Trade update – 4 Oct 2019

How we got almost 5x profit on Facebook stock Setup 3

The price made a significant up movement, which confirms that our technical analysis is correct, however, we still have a long way to go before reaching the target.

Trade update – 10 Oct 2019

How we got almost 5x profit on Facebook stock Setup 4

The trade got interesting because it formed a sell setup, however, by considering our initial setup, the price action, and what the indicators tell us, we can say that it looks like a minor opportunity, and so we just stay into the trade.

Trade update – 11 Oct 2019

How we got almost 5x profit on Facebook stock Setup 5

The price made a gap up, which confirms our outlook and also gave us the opportunity to move our stop loss to breakeven so, from now on, we’re in a risk-free trade.

Considering the price action, we should definitely be able to reach the target.

Trade closed – 18 Oct 2019

How we got almost 5x profit on Facebook stock Setup 6

It took some more time but eventually, the price reached our initial target.

In the end, the trade has been rather long but we successfully exploited the price movement between the major support and resistance and, thanks to the stock technical indicators that we used, we got out of the market with an almost 5x profit on Facebook stock, a 4.85x to be precise.