jwjustinwatkins

PYPL Zone Trading - Play Bounce-up at PL $205.10

Long
NASDAQ:PYPL   PAYPAL HOLDINGS INC
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PYPL
All Markups from 4h Chart
Today's Date 11/11/20 4pm Wed

PLs in Orange
Fibs in colors

Already missed a good play, bouncing up on the 0.786 fib after several confirmations.

Plan: Patience. Wait for stock to hit either (A) 205. 01 PL and sell, (B) come back to 0.786 and buy, or (C) if uncomfortable with B, let stock fall to 173.15 PL and buy.

I like A- that is a STRONG support, look how violently people bought at that level before, unwilling to let it drop to 0.618 price. Be patient.

Comments

Result: Win! PYPL followed near exactly the plan drawn for Plan B: Fall back to 0.786, buy, hold to 196 area.
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