Trading Idea

META Platform: Daily Technical Analysis & Setup

 
 

Daily Analysis | 1D |

From a technical point of view, META is very interesting for Day Traders, but at the same time it could also give some opportunities to Aggressive Traders (Intraday) in the short term. Having said that, if we look at Daily Chart the trend is bullish in the mid-long term, but in the short term we do not exclude a consolidation before another rally. For Day Traders the setup is very simple, wait for pullbacks to take a long position as shown on the chart. Money Management also seems interesting, with a risk of 2% we get a Risk/Return Ratio > 1:8 (not bad).

 

Intraday Analysis | 1H |

Now we need to understand how META could reach our Setup Area, and it could do so simply in two ways: with a bullish scenario (Top and Impulsive Structure still in play) or with a bearish scenario (ABC Pattern in play), as shown on two chart below. Both of these two scenarios should be able to reach our setup area on the daily chart.

Trade with care
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