AT&T has been so weak to make a new low after the 2015.08.24 low! The earnings report day is coming, there is a potential bullish butterfly about to be formed before 30.00 fig.
Of course, this trade requires a intraday reversal sign AFTER the earning report, if going down after earnings but not breaking the 30.00 fig (Kinda a no-brainer SIZE over there) and give a reversal sign there, that'll be a good chance to create a mid-term position for this dividend giant.
Let's see how it goes!!
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Hitting there, let's see how it deals with 30.00 fig yo! if it breaks down 30.00 before giving reversal sign, this trade cancelled.
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INSIDE DAY BABY~
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Got the 1st kick!!!!
Nice Harmonic Pattern and Inside Bar combinations!!
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Hit TP1 to show how minus Beta T is yesterday , Pretty much a textbook trade lol~
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Nice run to hit the TP2 of the butterfly! put the rest out below 32.00 to trail yo!
@stinkbug, not at all; it hit my short term target I'll take some profit and that's it yo~
stinkbug
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@Trader_Joe_Lee, cool, been looking at this and looks like it may turn up for a longer term swing for me at least. We will see, ill keep my stops tight.
kmkswamy
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what is your target on this?
thelion01
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you nailed it again! wish i have done this one on my real acct...did it on paper trade entry yesterday with the stop below 30
Trader_Joe_Lee
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@thelion01, It's not a bad idea to start making your own system with paper trade before you are confident enough ~