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Will_Wong
Feb 10, 2019 12:31 AM

SHOP: Massive Bull Flag. Problem is the wave 2 retracement  Long

Shopify Inc.NYSE

Description

is only 38.2% which is way below the typical 0.5~0.618. So I have included the irregular 2 flat which is also very unusual for a wave 2. My primary count is an impulsive breakout. I expect wave ii to retrace to the trend support, of which there are two. Wave iii should be exciting.
Comments
gvoommen
Based on the current prices what do you think?
Will_Wong
@gvoommen, Expect a wave 2 pullback of between 50% to 61.8%. Should test the bottom channel. See latest chart posted on SHOP.
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