Shopify Short Position - idea
This is my idea on shorting Shopify.
By looking back at Shopify chart, every Gap present in the chart created by slippage etc.. has always been closed.
The "pattern" follows that one that i use for Forex as well, it first targeted a gap created on the 16th Feb 2022, closed it, and is now aiming for the nearest one (which is the only still open).
The idea behind the trade is shorting 2 days before the Revenues report happen, I've seen that price cyclically drop and raises on revenue reports regardless of the positive or negative surprise, this might be influenced by Revenues + Buy backs of the company itself.
The next Revenue report will happen on the 14th of February 2024.
By looking back at Shopify chart, every Gap present in the chart created by slippage etc.. has always been closed.
The "pattern" follows that one that i use for Forex as well, it first targeted a gap created on the 16th Feb 2022, closed it, and is now aiming for the nearest one (which is the only still open).
The idea behind the trade is shorting 2 days before the Revenues report happen, I've seen that price cyclically drop and raises on revenue reports regardless of the positive or negative surprise, this might be influenced by Revenues + Buy backs of the company itself.
The next Revenue report will happen on the 14th of February 2024.
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