Hello everyone! I should call this trade the “double engulfing pattern trade”.
Intuit Inc. (INTU: NASDAQ) 2018.05.29 – 06.25.
Opening price: 197,84 USD
Opening date: 2018.05.29.
Cost of transaction: 0,6%
Closing price: 203,70 USD
Closing date: 2018.06.25.
Result of the trade: +2,36%
Before entering the market and closing the position, engulfing patterns were appeared which are strong signs. After the bearish engulfing pattern I deliberately did not close the position because I wanted to give it a chance so instead I set up a stop loss order. Although the stop loss order was activated, I managed to earn a little money on it at least.
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