Here’s Why Flexibility Pays Off
As a daytrader one of the keys to success is to
remain flexible in your approach to the market. It pays to listen to what
the market is saying, instead of listening to your ego.
11:41:59
Intraday
Setup Alert
From the Nightly Daytraders
Report Intuit (INTU)
is one to watch out of its intraday consolidation. The stock had been
mentioned favorably, but after an early push higher, the stock reversed session
gains and is now testing daily chart supports (slightly below). With the current
pattern setting up this could be one to trade from either side. Long side
entries might be considered above the 45.40 level, and shorts, on a resumption
of trend. INTU is down 1.32 at 45.23.
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The technical bias this morning was from the long
side. While the morning gap demonstrated strength, it was being flexible enough
to let go of what was fast becoming a part of history, and concentrate on what
was happening in the now, that allowed one to profit from Intuit. In this case,
being “in to it”, meant listening to market and taking a well defined
entry from the short side.
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