Here’s What Ultimately Determines Success
I seriously hoped it
would work out based on what I considered to be enough edge for a
high-probability long–but rest assured, when a stock begins to fall
like a rock, hope is not a part of the money management equation. The best-looking triggers are going to fail, it’s how you
contain your risk on those that
don’t end up in the plus column, that ultimately dictates success over the long
haul.
10:51:30
Intraday Setup Alert
Silicon Labs (SLAB)
has formed a session long, intraday congestion pattern–down .48 at 50.87.
This action has the stock trading in a daily support zone between 49.75 – 50.95.
With the 60-minute chart confirming the 5-minute consolidation by way of a high
volume hammer low, reversal long triggers might be considered on a move thru
pattern highs of 51.31.
In an oversold market that just keeps on going–trades left up to wishful
thinking have a tendency to make the bad look a whole lot uglier–always know
where you call it a day before you enter a trade.