cbud
Short

AT&T forming a triangle for last leg down in sequence

NYSE:T   AT&T INC
29 2 1
I count a larger WXY pattern within a channel. Should be last move down into support near lower channel line. There's a Fib confluence from the triple top highs near 41 at 37.68 as a target. Yields a 2.5:1 reward.
Short trade trigger below the small triangle ascending trendline near 39.68.

It's usually poor EW trading to use the e wave or c wave highs as a stop level. Stops are supposed to go behind the a wave highs. But in this case I will use the e wave highs as I don't want to see a symmetrical rally up near 41.50 as an A-triangle B-C pattern (alternate count) and want to stop out below 40.50 if I'm wrong. I'll consider reloading short again near 41.50 if the alternate count comes true after trigger.
RSI is holding below Bearish oscillation zone and nothing overly bullish looking.
Hey Buddy, in my opinion it just finished the C and this is Wave-1 before an up move on daily TF... i think the PA will confirm this in next few days but wanted to keep that option open.
Reply
cbud mater
Oh for sure the decline can be over. I'm putting weight on the preceding decline w wave structure and internal legs of the triangle. Hasn't triggered yet.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out