SaeedSajedi

SHOP, Lots of long and short opportunities ! We keep it on watch

NYSE:SHOP   Shopify Inc
SHOP is beautifully offering lots of long and short opportunities ! Are we prepared in advance ? Of course we are.

SHOP has started new motive rally from 1005.14 on 26 Mar 2021 and so far has completed wave (1), wave 1, 2,3 and probably wave 4 of (3) and now is probably completing wave 5 of (3) which will terminate at two proposed strong resistances which are 1641 and 1710. After completing this up going wave, there will be a short opportunity to catch wave (4) down to 1405 , 1333 and 1260 corresponding to 0.382, 0.5 and 0.618 Fibonacci levels respectively.After that, another and last up going wave (5) will start.

After making a new ATH , there will be a great short chance down to prices below 1000. Who wants to miss the chance?

Please note that, this is the most probable scenario for now. Should it need any update, it will be done later.

We are prepared in advance to make profit. We trade smartly and objectively. We see the chances but never jump into the trade blindly. Right?
Comment: Strong bearish reaction to first proposed resistance ! Lest follow.
Comment: Are we making profit from continuous Shorts and Longs?
We are on the way to become a millionaire? Right?
Comment: Strong bearish reaction to 0.618 Retracement of last small decline ( wave a).
Wave b may be completed. Correction may end at 1413. Are we prepared in advance?

Comments

If you are correct, then awesome! If you are wrong, give up charting.
+1 Reply
SaeedSajedi thatsmedina
@thatsmedina, If Wrong never give up. Learn some thing new and try more. Good luck
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thatsmedina SaeedSajedi
@SaeedSajedi, Yea, I agree. Can't always get it right... Be right when it matters most and be wrong when it matters least. I don't know enough about Elliott Waves so I am taking your analysis into consideration.
I know Shopify since it's IPO and know it's trading patterns. Their ER is coming up next week, that could precipitate a sell off as it tends to do. BUT... could create a buying opportunity for the BFCM thrashing.
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SaeedSajedi thatsmedina
@thatsmedina, Wish you huge profits my friend.
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thatsmedina SaeedSajedi
@SaeedSajedi, Did good, it bounced off the $1650's,close enough I'd say. So according to your calculations, this retraces to the $1400's, 1300's or in an extreme move... the 1200's?

With ER just 2 days away, I'd say this might settle in the 1500's and depending on the ER, will determine if we see that shot to the 1700's or back to your lower price predictions. With that being said, I told at 1623 and 1617. I'll hold that until I see where we're at next week with this.
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SaeedSajedi thatsmedina
@thatsmedina, For me currently 1400 and 1300 are more probable. Later if every thing goes well we can choose and calculate support zones more accurately based on internal structure of correction.
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SaeedSajedi thatsmedina
@thatsmedina, Even with correction still there is one more up going wave ! so it is very probable that you see benefit of holding your shares in upcoming weeks.
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thatsmedina SaeedSajedi
@SaeedSajedi, Thanks! I have a core position (from IPO) that I don't touch. What I sold this morning was from $1200's so I plan to hold that until this settles over the coming days. Looking forward to your next analysis though!
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SaeedSajedi thatsmedina
@thatsmedina, Every stock will crash some day..If every thing followed approximately my prediction be careful about what I labeled as big short.
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Everything looks great just need to be patient but I am already short from 1569. Anyway keep learning thanks to people like you and my never give up attitude . Cn you please tell me how exactlly you came up with the two resistance levels. I tried so many fib extensions and only see one of them 3-4 wave ( 1.272 and 1.618 ) , BUT can not figure out the oter 1 and 1.272 . Thank you
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