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