Consistent Edge Means Taking The Second Entry
You’ve got the technical levels mapped
out ahead of time, and then as the next trading day is set in motion, almost
magically, the high-probability pattern emerges to trigger entry. What
more could you possibly need?
Just like the song that’s running through my head
right now, sometimes ‘It takes two baby, it takes two baby…”
09:51:10
Intraday
Setup Alert
The Semiconductor HOLDRs (SMH)
has triggered out of an extended intraday RST pattern as it reverses back
thru the 20-Day EMA to the upside. The SMH is down .15 at 31.65.
As it turns out, this pattern was also triggering in the form of an Opening
Reversal as it was pushing back above the 20-Day EMA. Unfortunately, even trades
that look to have all the elements of a successful trade in place,
sometimes don’t contribute to our long-term trading edge.
Next please….
11:58:33
Intraday
Update
The Semiconductor HOLDRs (SMH)
is triggering out of an ascending triangle,
after establishing an extended intraday RST low. The SMH is down .15 at 31.65.
If you look closely, or just follow the numbered
series above, you’ll probably recognize another old favorite that ‘gave’ an even
stronger entry than the two entries that I pointed out in our LiveAlerts. Either
way, it pays to prepare, and stick to the consistent setups with edge as they
appear, throughout the trading day.