Wednesday Update 5/20

90% of Trading is Waiting ⌚️

Warm greetings to you all!

Before I share any charts, I want to make sure you’re aware of Trading in the Zone.

If I could only read 2 trading books, it would be this one and Volume Price Analysis. The former helps me with my mindset and the latter helps me focus on quality setups receiving volume. Reflecting back on both of these books helps my reset on the frustrating days. Tuesday was that day for me. The shorts were’nt flushing and the longs kept pulling back. It was a day to breath, zoom out, and exercise patience.

Let’s zoom out and read what the market is telling us. The bounce, combined with a suppressed VIX, is telling Longs to just calm down. It was an expected pullback. The market is not spooked.

But, also notice how the market responded to the potential news of a deal being made with Iran. Travel stocks bounced hard with Volume. There are times when the market seems to ignore good news. This is not that time. The market had the opportunity to flush and it did not. Multiple sectors, including crypto, held support. The Travel Sector received solid volume today AND a few of them are at support. I’ll share my favorite 👇

The market experienced a re-test and that support held. So, let’s not be surprised by the VELO 0.00%↑ re-test and the pullbacks in some of our setups. Learn to remain calm, zoom out, and see if support is holding. I think you all know I was targeting the pullbacks on this one. Look at the Tweezer Candles showing support 👀.

No, this hasn’t given us the screenshot gains yet 📷. But, it’s setting up!

Many charts have that same look. Learn to love the consolidation before a move!

🗒️ None of my charts are a plan to jump in blindly. They are all binary conditionals; trigger + confirmation + 🎯= 🏆

• White lines are Support/Resistance I’m watching (I set my alert 🚨 there)

• Red lines are 🎯s where I scale out(then I set my 🛑s to guarantee a winning trade)

I share charts; not financial advice. What u do with this info is up to u.

My Top 8 In No Particular Order 👇

🔁 SAIL; Sailpoint, Inc 🖥️

Thesis: Breaking out from the Falling Wedge after high volume breakout

SailPoint makes software that acts like a digital security guard 🛡️ for companies, deciding who gets access to which apps and data. It automatically gives you the right logins when you start a job, updates permissions when you switch roles, and removes access when you leave.

🔁 Note: I will use this emoji to indicate if I am still swinging 🔁

🎬 I will use the “begin” emoji to show if I’m looking to start a new position

Weekly Chart

Price dropped 32% in spite of these numbers:

• ARR: Crossed $1 billion milestone, up 28% YoY

• SaaS ARR: $669M, up 38% YoY (64% of total ARR)

• Full Year Revenue: $1.069B, up 24% YoY

• Net Revenue Retention: 114%

• In April 2026, Olympus Corporation won a $145M Treasury Department contract for Next-Generation Identity and Access Management implementation using SailPoint's Identity Security Cloud platform.

• Earnings June 9th

  • Investor Day June 16, 2026 in New York City, featuring live-streamed updates on innovation and growth strategy.

🔁 My personal plan I’m currently in Commons. My stop is < 13.40

Subscribe to see my Top 10. The Discord Link is at the bottom of the Newsletter. I provide Newsletters on Weekends, Mondays, Wednesdays (that’s 3 Newsletters each week w/ 10 charts). Included in the subscription are all my Candlestick Courses, Thread Updates, and a link to my Volume Journal.