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Elliott Wave View: PayPal (PYPL) Right Side Remains Bullish

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Elliott Wave View: PayPal (PYPL) Right Side Remains Bullish

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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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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