PontusTrader

Short PYPL on rising wedge termination in bear flag support

Short
NASDAQ:PYPL   PayPal Holdings, Inc.
Here's PYPL marked up on the hourly. Bear flag move off 23APR, price terminating into a bearish rising wedge right on bear flag support. The best RR would be to shot at the top of the flag but I really do not believe it will get to 178 and you'll miss a sick setup.

I see it either head faking a break to the outside then dumping out of the bear flag, or just dumping out of the bear flag within a day.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.