Another exception of the wave count on PYPL

Earlier I mention that there is a possible downside formation of an expanding triangle and I took the liberty to see if there is an alternative view.

So indeed there may be a possibility of a 2 set of double flats forming a double three of lesser degrees, All in all, we are looking at the same potential grand rally price and we are looking at the immediate downside. Which one will be right? only time will tell.

Dagangan ditutup: hentian tercapai:

Paypal- After trading thoughts. Short was in my mind after a shooting star and a strong bearish candle, however, the next trading day saw the price gap with a strong bullish candle, closing above the top of the bearish candle. The subsequent candles were consolidating in a bullish form and therefore, I had a strong hunch it is going to be stopped out and it did.

Backtrack a bit, the subsequent candles did not close below 50% of the bearish candle. The reason being is because, in order to sustain the selling/bearishness, the price must close or trade below the bear candle. Or else that is just a correction.

Signed out,

William-Trading