Time Cycles Are Worth Watching: FB Case In Point

One of the main tools I use every day that most other analysts don't are the cycles on the time axis of the market.  Like I've said in the past, timing won't always turn the market, but it does often enough to pay attention to them just in case it does!!

A recent example was in FB.  FB tested some key symmetry support in the 169.90 area.  At the same time it tested a timing cluster that came due 4/26-28 for a possible low.  Once a 15 or 30 min trigger fired off on the buy side it was ok to take a long overnight.  

So far we've seen a $55.30 rally off that last timing.  That is how it is supposed to work. Note that the low was made directly within this time window on 4/27.

Bottom line, time cycles are worth watching!

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.