I don't think this is really all that useful just cause you have to use your second jump on every stage but YI. I think a better option is to do turn-around needle cancel because then you can use your second jump with your fair or what ever aerial your using.
Well if you are going to go that way then you are correct and incorrect at the same time.
Sheik has many different guarding ways. Here is what I have listed in the Diary:
Ledge tricks (while you are on the ledge):
Ledge drop> Fair/Nair> regrab the ledge
Ledge drop> jump> Needle’s
This will hit people a certain distance away from the ledge.
Remember, the ledge cancels all lag from the Needle’s. You can just be finishing Needle Storm and then grab the ledge. If done correctly you may even be able to set up a Fair/Nair combo allowing you to return to the stage if they are close enough to the ledge.
Ledge drop> B reversal> second jump> Bair
Bair has more reach than Fair/Nair.
Ledge drop> B reversal> second jump> Craqwalk
The idea is to just barely clear the ledge with your back to the stage.
From this position you can do a DSmash/f-tilt/whatever you want.
Ledge drop> second jump>wall jump> Bair
Ledge drop> second jump> wall jump> Fair
Ledge drop> chain> regrab
Use this to gain you invincibility frames back.
Ledge drop> DI away from the stage> chain hog
Use this as a safer version of edge hogging.
If you are dangling you can “retract the chain> ledge drop as soon as you grab the ledge> Bair”
You will Bair with invincible frames.
This is called invincible guarding.
Ledge drop> Vanish> regrab
Use this if you have used the chain three times.
Ledge drop> Vanish> DI away from the stage> (the hit box will come out)> regrab the ledge/reappear onto the stage
Granted, some of those options are planking, but I made it me friendly and I understand it. You just have to think the actions throught for you to understand it.