PYPL trading plan!
I would not dare short this stock. First chart shows last three MAJOR consolidatory periods and subsequent breaks. The green trend lines are very similar on the first 2 major bullish runs off of a major break. So I got to to looking for long signals that I can utilize in order to minimize the amount of time I sit through red days on long positions. So far my plan consists of these guidelines.
1. Looking for some short term confirmation(s). Previous high on the daily (orange line) if not, green TL. If dipping below green TL refer to next guidline.
2. Utilize 1 hour chart and Oversold Stochastic RSI for entries below green TL. Accumulate and average down as necessary.
3. In the case that this makes a strong multiday bullish run, look for breaks of previous day highs and or 15 minute consolidation periods for 1-2 day entries and exits.
4. Trade this over and over as long as setups continue to presents themselves.
5. Look for bearish trends not just bullish ones. If bearish stay out of longs.
Overall I am extremely bullish on this stock in particular. They drop PR often and are fundamentally sound. Will be trading monthly contracts and weeklies on short term bullish signals. Loose stops on all positions => approximatly 2% underlying movement or 14% contracts movement.
_RJ_
_ 6/20/21 _
_ Bullish _
1. Looking for some short term confirmation(s). Previous high on the daily (orange line) if not, green TL. If dipping below green TL refer to next guidline.
2. Utilize 1 hour chart and Oversold Stochastic RSI for entries below green TL. Accumulate and average down as necessary.
3. In the case that this makes a strong multiday bullish run, look for breaks of previous day highs and or 15 minute consolidation periods for 1-2 day entries and exits.
4. Trade this over and over as long as setups continue to presents themselves.
5. Look for bearish trends not just bullish ones. If bearish stay out of longs.
Overall I am extremely bullish on this stock in particular. They drop PR often and are fundamentally sound. Will be trading monthly contracts and weeklies on short term bullish signals. Loose stops on all positions => approximatly 2% underlying movement or 14% contracts movement.
_RJ_
_ 6/20/21 _
_ Bullish _
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