FB requires 3 charts because depending on how trend lines are drawn we can come up with two different counts with slight nuances near term, but profound similarities LT
First chart shows the trend lines connecting the absolute lows and highs. Here we use weekly candles and Log-scaling. With these lines we expect an intermediate d wave low in the $100 region, right at the lower trendline before intermediate e of major 5, which is forming an ending diagonal triangle (EDT) off the major 4 low, targets $125-$135 for Primary I. Note that intermediate e will be as messy as all prior waves (See figure 3 for more details)
Second chart shows the upper trend line connecting with the major 3 high and recent high signalling Primary I is already in. The lower trend line is then set at the February low, making that already intermediate d. Intermediate e then completed late March and Primary II is already underway.
That is the main difference between each plot. The first has price drop a bit more to the lower trend line in the first chart and then rally (on earnings) for possible an additional 20-30% gain, and hence certainly a great trade. The second has price drop continuously. As such keep a close eye on both trend lines. To summarize it all we’ve drawn the 3rd chart showing the trend lines and count: see below. The green lines are from the 1st chart, the blue from the 2nd. In addition, this chart also has the TIs and these do look weak and bleak wanting to see lower prices going forward. Not show here, but also the weekly TIs are weak and bleak; hence FB is at a very critical junction…