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.
     
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  2. Nice job Trend Fader! Thanks for the post.
     
  3. richk

    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.


    --MIKE
     
  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

    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.


    --MIKE
     
  8. richk

    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.


    --MIKE
     
  10. Merc

    Merc

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

    Thanks.
     
    #10     Aug 25, 2003