Classic Triangle Breakdown-- AT

Just wanted to share a swing trade I put on today.

I am short AT because of the classic triangle breakdown.. on pretty high volume.

I will start scaling out of the position as soon as I am in profit. 47.01 is my stoploss... i will look to make between 1-2x my stop loss risk.

Here is a chart.

 

Nice job Trend Fader! Thanks for the post.

 

As Telecoms are weak sector and AT looks weak in weak sector, I have to say : Right choice

Happy trading Trend fader

 

Thanks guys...

The reason I shared it is because I thought it was a pretty good pattern.

What caught my attention is the nice sideways movement for 15 days prior to today's high volume breakdown.


--MIKE

 

That volume you mention is so important for this strategy. For your sake, I hope this thing drops like a rock. But should it do the much-lower-volume-pullback, I will be there waiting. Thanks again MIKE!

 

Yes i spot similar patterns on a few other stocks too, but the volume weren't there for most of them

AT was a nice one!

Good job!

(Trend fader's expertise... trend fading. )

 

My ideal play would be for the stock to drop for 2-3 days and make consecutive lower lows. Then we get a nice low volume pullback straight up to the breakdown point. Then I will look to short again once the downtrend resumes.

Thats totally jumping the gun.. but it would ideal.


--MIKE

 

Is AT in your regular stock list or do you scan market in same way for such finds?

 

I have no regular list.

I scan the entire market with TC2000 everyday to come up with candidates.


--MIKE

 

How do you program TC2000 to find that kind of setup?

Thanks.