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a_ag
Mar 6, 2024 11:54 PM

SHOP - Back to bullish after correction - Bullish Long

Shopify Inc.NYSE

Description

NYSE:SHOP

-Positive trend and following trendlines
-Exceptions on Octobers (different low trendline)
-Just did a correction and filled a vector
-Already hit the 50EMA in the daily timeframe, and very close to hitting the 800EMA in the hourly timeframe
-A huge gap ~85.5 to be filled, and possible higher targets
-Stop loss slightly lower than ~70 (as it means it broke the strong support)

The fun part with this trade is low risk (only ~4% loss with possibly ~18% profit)

*Not Financial Advice*

Comment

Moving Stop loss to ~72.6...looking good
Comments
a_ag
am not using the rsi strategy btw
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