I. Analysis
1. Stock in an uptrend with series of hh/hl.
2. Gap up has now been closed. Value area defined as the bottom of the gap, area where a lot of buying pressure stepped in previously,
3. Bullish hammer formed at this area
Another very clean trade, uptrend giving us a long bias, value zone well defined, clean entry trigger just formed.
II. Trade
1. Enter next candle
2. SL 1 ATR below this hammer // Support area drawn
3. TP Next swing high // trail sl with new support-previous resistance
Plsd to hear yr comments.
Cheers
Ruben
1. Stock in an uptrend with series of hh/hl.
2. Gap up has now been closed. Value area defined as the bottom of the gap, area where a lot of buying pressure stepped in previously,
3. Bullish hammer formed at this area
Another very clean trade, uptrend giving us a long bias, value zone well defined, clean entry trigger just formed.
II. Trade
1. Enter next candle
2. SL 1 ATR below this hammer // Support area drawn
3. TP Next swing high // trail sl with new support-previous resistance
Plsd to hear yr comments.
Cheers
Ruben