As US indices were making lower lows in January and February of 2019, PYPL was making higher lows setting up a bullish structure within a larger impulse up against its All Time Low of 30.00 set on 8/24/15.
As US indices were making lower lows in January and February of 2019, PYPL was making higher lows setting up a bullish structure within a larger impulse up against its All Time Low of 30.00 set on 8/24/15. Taking a look at the 4h chart on PYPL, we favour that there is a wave ((3)) of red V in progress while above the wave ((2)) lows of 94.73 set on 10/23/19. From there, blue (1)-(2) is set and blue (3) is in progress. An equal legs extreme area of ((1))-((2)) is at 141.60 to 170.57, with the typical wave ((3)) target area at the upper end of the box. The right side is up and we do not recommend selling this instrument where pullbacks in 3, 7, and 11 waves should continue to be supported as long as prices remain above the ((2)) lows at 94.79
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