PayPal: Watchful Waiting 👀
Updated
Paypal (PYPL): 
PYPL
After entering PayPal at around $57, we experienced a notable rally followed by a sharp decline, resulting in our stop-out at breakeven despite initially taking profits. This series of events could suggest the potential completion of Wave ((ii)). However, we remain cautious regarding the possibility of further downtrends. Maintaining a level above $53.35 is crucial to prevent a drop towards the $50 mark. If this support level fails, a significant decline may ensue, potentially invalidating our bullish scenario.
At present, we are refraining from initiating new entries, opting instead to closely monitor market developments. This approach provides us with the flexibility to establish new positions without pressure or adjust our strategy in response to evolving market conditions. ✔️
PYPL After entering PayPal at around $57, we experienced a notable rally followed by a sharp decline, resulting in our stop-out at breakeven despite initially taking profits. This series of events could suggest the potential completion of Wave ((ii)). However, we remain cautious regarding the possibility of further downtrends. Maintaining a level above $53.35 is crucial to prevent a drop towards the $50 mark. If this support level fails, a significant decline may ensue, potentially invalidating our bullish scenario.
At present, we are refraining from initiating new entries, opting instead to closely monitor market developments. This approach provides us with the flexibility to establish new positions without pressure or adjust our strategy in response to evolving market conditions. ✔️
Note
Since our entry in PayPal, we've witnessed a substantial rise, during which we secured profits and were subsequently stopped out at break-even—not a terrible outcome, but it may now present an opportunity for reevaluation. However, should the price continue to rise beyond wave (b), we will consider this scenario valid and keep an eye out for new entry points. For now, we remain on the sidelines, observing PayPal's development. Making a profit with PayPal was the primary goal, and while the gains weren't as substantial as hoped, taking profit is never a loss. Hence, we will wait and see how things unfold. It's crucial that the price does not fall below the wave ((ii)) level of $55.77, and we should surpass the wave (b) level of $68.21 before considering additional positions.
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