$SHOP has pulled back to its 0.38 Fib and has bounced very well and it may test its 200 Day MA at $68.80 before we get an ABC pull back.
Pulling back to the 0.38 Fib is not where I add to my positions, pulling back to the 0.38 Fib would indicate that this is only Subwave 4 and we are still in Wave 1, so I will wait until Wave 2 completes before adding, I rarely add in subwaves.
I am very happy with my position here as this was all profit from my $HIMS sell and now we are compounding profits, which is the overall aim of our strategy and this group.
I will add again when there is a Wave 2 pull back only.