Classic Triangle Breakdown-- AT

Discussion in 'Trading' started by Trend Fader, Aug 25, 2003.

  1. 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.
    • at.png
      File size:
      85.4 KB
  2. Nice job Trend Fader! Thanks for the post.
  3. richk


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

    Happy trading Trend fader
  4. 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.

  5. 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!
  6. Momento


    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. :p )

  7. 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.

  8. richk


    Is AT in your regular stock list or do you scan market in same way for such finds?
  9. I have no regular list.

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

  10. Merc


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

    #10     Aug 25, 2003