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It's time to get paid with some PayPal (PYPL) plays. Let's go!
Today we are looking at PayPal's chart going into earnings. The bet is that this online payment company did will during the second quarter under COVID and that we will be seeing new highs going into earnings on May 6th or shortly after.
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1. PayPal is already back up near its previous highs, having gotten rejected at the R1 bearish orderblock.
2. We got a long signal from Fractal Trend (Green background color) and a long signal from Breakaway Scalper (Green bar color) back in mid-April. We take long positions when Fractal Trend is bullish and then Breakaway Scalper is bullish, so this setup worked well.
3. We have a trailing stop still active on that long to lock in profits and will be relying on it to signal an exit upon the run up if we break these highs at R1.
4. The idea here will be to stay in the long position into earnings, assuming the strategy continues to give us the "green light." This is because earnings momentum may bring us higher and force quite a few people to cover their shorts as well as earning being great from all the recently generated revenue while everyone has been at home from the quarantine.
5. If we do break down for whatever reason, perhaps due to weakness in the overall equities markets, or perhaps if earnings are surprisingly bad, then support levels to watch are S1 and S2. That said, the idea here is to get paid with some PayPal, and the strategy suggests the best way to do that according to the strategy is to stay in a long position for now. So that is the play.
Like and Follow to help us grow family! 🎉
---
It's time to get paid with some PayPal (PYPL) plays. Let's go!
Today we are looking at PayPal's chart going into earnings. The bet is that this online payment company did will during the second quarter under COVID and that we will be seeing new highs going into earnings on May 6th or shortly after.
---
1. PayPal is already back up near its previous highs, having gotten rejected at the R1 bearish orderblock.
2. We got a long signal from Fractal Trend (Green background color) and a long signal from Breakaway Scalper (Green bar color) back in mid-April. We take long positions when Fractal Trend is bullish and then Breakaway Scalper is bullish, so this setup worked well.
3. We have a trailing stop still active on that long to lock in profits and will be relying on it to signal an exit upon the run up if we break these highs at R1.
4. The idea here will be to stay in the long position into earnings, assuming the strategy continues to give us the "green light." This is because earnings momentum may bring us higher and force quite a few people to cover their shorts as well as earning being great from all the recently generated revenue while everyone has been at home from the quarantine.
5. If we do break down for whatever reason, perhaps due to weakness in the overall equities markets, or perhaps if earnings are surprisingly bad, then support levels to watch are S1 and S2. That said, the idea here is to get paid with some PayPal, and the strategy suggests the best way to do that according to the strategy is to stay in a long position for now. So that is the play.