Trade Idea on PYPL


PYPL trending higher inside an uptrend channel , while obeys to technical indicators:
  • support on lower uptrand channel line
  • support on 50 days SMA .
  • convargance into upper triangle form.

I predict that the triangle pattern will kept, and therefore a possible LONG position can be open.
First Target - 92.5-93
Stop should be under close price under the lower uptrand channel line.

How often are your predictions wrong? :)
I think we were in ascending or descending triangle depending when your starting point is. This is the problem with Elliott Waves and patterns as much as believe in them, it's true, we can only be certain in retrospect :-\ otherwise this manipulated algo nonsense would be too predictable...
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