Facebook Inc. (Nasdaq: FB) is a global social media networking company with over 1.2 Billion users as of 2014. As part of its business model, Facebook offers developers a set of tools and application programming interfaces integrated with the site to streamline the development of mobile and web applications. This developer-friendly culture has been a big factor in Facebook’s dominance of the social media space and more recently in mobile.
Each day I watch 4 stocks using the Ichimoku Cloud, and have been very successful trading them on the 5-minute bar. My strategy is simple and easy: today I shorted Facebook on the 5-minute bar as it broke the cloud, with a stop above the Ichimoku Cloud. I subsequently have 4 profit targets, and can choose to move my stop to break-even after hitting Target #2.This was a great stock trade, but it is a day trade: I will take the balance off this winner of by the end of the session.
Andrew Keene