Consistent Plays Add Up
Trading with edge doesn’t
necessarily mean that every trade is going to be the proverbial home run. With
strategies such as TrapDoor reversals there’s actually a greater than 50% ( I
think Haggerty says 60%?) chance that the stock ultimately resumes its prior
intraday trend. So why do we bother ‘swinging’ at something that most likely
will end up somewhere in the ball park? ‘Consistency at bat.’
10:58:43
Intraday
Setup Alert
Nextel (NXTL)
is forming a potential intraday TrapDoor formation. The stock has broken
lower in heavy intraday trade, down into a potential support zone consisting of
angular daily supports, the 50-Day EMA, as well as a 50% Fibonacci support level
from the August lows. NXTL is off by .88 at 18.83
While the profits might not
always be grand slams, the consistency of these high-probability reversal plays
when used in conjunction with technical supports will keep you looking like an
MVP every day of the week.