alexandre.wolwacz
Short

Mtb on the edge

NYSE:MTB   M&T BANK CORP
32 2 0
One of my favorites technique is trading rectangles. What i really like is to find a Stock that is on the resistance of the price and at the same time in the resistance of time. What I do is multiply the distance in days between the first two tops in the rectangle by the fibonacci proportions. This gives me the next inflections days in the future. As we can see in the MTb             , the distance is 12 days between the first top and the next one. 12 X 1,38 = 16 ,56 days. And we found a bottom . 12 x2 = 24 we found other bottom... 12 X 2,38 we have 28,96.. 29... we found a top... the next inflection point will be 4 days from now... this allow me a sell in the break below the low of the last bar. stop above it. target 121.00
Finishing my MTB Short trade!!! good profit.
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Nice going
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