FB Trade on Apr 2, 2014 13:09 from johnc_BOWS: Tradervue User Stock Trades.

I got this trade idea from Justin in the Bulls room. This is definitely one of my GOTO setups (currently labeled "bear flag").

There was a big seller at 63.40.
Every time FB tried to break above it, someone quickly shorted it. Here's how this setup works:
1) The Pole. There was a HUGE dip in the morning (which formed the bear flag pole).
2) The Resistance. A key resistance area forms at which the stock gets immediately shorted. Sometimes this looks like a lower-high, where bears will short before it even gets to that price.
3) The Rising Wedge break. When the rising wedge is broken, buyers lose hope. Not only do you have strong overhead resistance, you also now have no idea how low the stock will fall.