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AT&T

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1T trade ideas

AT&T impulse wave C up for decline in larger structureThe previous short I was looking for on a break below the ascending triangle trendline never triggered. The price structure is still a triangle and I put probabilities on what was originally my alternate count. So A-TriangleB-C up into 41.50 - 41.80. 5 waves into wave C with divergence into the wave (v) of C. Arithmetic symmetry is at 41.80 for throw-over, trendline is near 41.50. Triggering short on a strong bear move back below 41.23 ascending Grey trendline. Stops are even handle behind wherever the C wave high comes in. Maybe 41.91 And then anticipated tradeable Bear move into 38.70.
NYSE:TShort
by cbud
3
AT&T forming a triangle for last leg down in sequenceI 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.
NYSE:TShort
by cbud
2
AT&T possible final 5th wave daily and weekly upAnticipating a possible move up in AT&T (T) to 44.50 mirror projection based on preceding milestones and 4th wave lows. Or the Rally is over and look out below for targets below 31. There is a pretty clear EW set of outcomes for this situation from process of elimination. Either I've counted wrong or there's one more leg up. Pros: Clear preceding Impulse pattern UP Decline in 3 waves Possible EW count with 5th wave remaining. Weekly timeframe mirror projection exceeded in Orange box. Daily timeframe mirror projection not achieved yet as wave 5 target 44.50. Price at Upper Fib cluster at 40.59 using the wave b (as labeled) high for a starting milestone. Secondary Lower Fib cluster at 39.65 sitting right at the wave (3) highs In a 3 wave geometric channel from the preceding wave 4 of one lesser degree. Oscillators making hourly Bullish W patterns. Cons: RSI clearly in Bearish territory on Daily chart. Current momentum signature and hourly pattern, and EW rules show that price can fall as low as 39.20 before invalidating a Bullish outlook which is questionable Risk control. Trade: Long 41.80 to 44.50 Given the possible pattern outcomes from what is currently showing: Anticipate that Price breaks the Red channel mid line to the Upside. Or it breaks below 39.65 and keeps going below 31. Alt count is in Teal color Roman. I see this as less probable because wave v in this scenario did not make a new high and leaves an unbalanced 7 waves up in the last rally into the highs when viewed on the 2 hour chart. Momentum and larger proportion of the current correction are Ugly at the moment, but the fact that it's finding support at the upper Fib cluster with respect of that Red channel drawn from the preceding 4th is something that jumps out at me.
NYSE:TLong
by cbud