INTU next target around 850 once correction is overINTU has been correcting after finishing an Impulse sub wave.
It will end the correction in the Price band of 745-715.
Why such a big Price band to end the correction ?
Because it has to correct till 4th wave of earlier sub wave
and or resolve technical divergence with the price and RSI so the large band.
How can we trade then for a target of 850 ?
Wait for the price to enter the correction band of 745-715, the price may for the pattern as indicated by Yellow 1-2-3-4-5 wave pointing downwards.,
Wait for good candle stick formation in this band, like morning star pattern, pin bar+bullish candle or piercing candle pattern, now combine this with minimum back to back two positive divergences in RSI with price, entry should be with all condition met so that you are in high probability party., or any of the entry principles one has already developed and practicing.,
How to know if the current rise is impulsive or part of bigger B after entry is made with conditions met?
Once entered, if you can inspect in lower time frame to see if its impulsive(Elliott Wave impulsive pattern), then it is confirmed that price is impulsive towards the target, else one can exit with some profits., and again wait for the price to enter the band and enter with above said conditions.,
How much time it will take for correction to get over and target to reach ?
Time calculation is not part of this view , so the whole thing may take few weeks to couple of months to play out!
PS: This view is fundamental agnostic and it is price action view with Elliott Wave theory applied.,
I will make best efforts to call out if the rise is impulsive or not.,
