Long Setup on PayPal (PYPL) – 1H Chart

hi traders

PayPal is currently trading around $66.80 – $67.00 after retesting a key support level that has held multiple times in recent sessions. The price action shows consolidation near support, with potential for a bullish reversal.

Entry Zone:

Around $66.80 – $67.00 (current support area).

Stop Loss (SL):

Below $65.78 (recent swing low and invalidation zone).

Take Profit (TP):

Targeting $70.60 – $70.70 (strong resistance and recent highs).

Risk/Reward Ratio (RRR):

Approximately 1:3, favorable setup for a long position.

Trade Thesis:

The chart suggests a bounce from support with momentum building for an upside move.

If the price holds above the $66.80 support zone, there is room for a bullish push toward the $70.60 resistance.

Confirmation can come from bullish candles forming around the current level.

Plan:

Go long near $67.00.

Place stop below $65.78.

Aim for $70.60+ as the first profit target.

Partial profits may be secured on the way up, with stop moved to breakeven for risk management.