Intuit Inc.Long
INTU - Uptrend + Bullish Hammer at value zone
I. Analysis
1. Clear and strong uptrend and evidenced by series of hh/hl + 20MA - look for long entries
2. 20MA working as a support area
3. Strong hammer just formed and glued to the 20MA
We are trading with the trend, from a value area and with a clean entry trigger.
II. Trade
1. Enter next candle
2. SL 1 ATR below 20 MA/ current pinbar
3. TP when price crosses and holds below 20MA
Note: Manage tightly because there is a relevant resistance level as displayed in the chart, potentially posing an obstacle to the development of the trend.
Plsd to hear yr comments.
Cheers
Ruben
1. Clear and strong uptrend and evidenced by series of hh/hl + 20MA - look for long entries
2. 20MA working as a support area
3. Strong hammer just formed and glued to the 20MA
We are trading with the trend, from a value area and with a clean entry trigger.
II. Trade
1. Enter next candle
2. SL 1 ATR below 20 MA/ current pinbar
3. TP when price crosses and holds below 20MA
Note: Manage tightly because there is a relevant resistance level as displayed in the chart, potentially posing an obstacle to the development of the trend.
Plsd to hear yr comments.
Cheers
Ruben
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