Classic Triangle Breakdown-- AT

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Trend Fader

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.
 

Attachments

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

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. :p )
 
Quote from inandlong:

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!
More...


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
 
Quote from richk:

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

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


--MIKE
 
Quote from Trend Fader:

I have no regular list.
I scan the entire markat with TC2000 everyday to come up with candidates.
--MIKE
More...

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

Thanks.
 
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