Day traders' bring-on-the-weekend lounge August 20 -22, page-40

Thought I would repost part of this convo from yesterday

@Key Sole made a very good call about where AXE would likely bottom - I also noticed you said you have followed it for a couple of years and if you would care to share why you like it ....





I was alerted to this after it dumped when I dropped in to post re TNT which didn't break either and closed on it's butt - Oh well

- I was aware that AXE has had a great run recently - of which it looks to have almost given the lot back - as is a bit common in the current climate it is a good chart though to look at review how a sudden breakdown and reversal works for anyone newer to trading -As much as anything breaks out and every one makes fast money - this is the exact opposite.... and you can make a nice tidy fast trade or get a good entry -

you can go through smaller time frames and see what the volume did - there are more posts yesterday if anyone cares to go and look- to see how it played out - The candle that is the alert is the breakdown candle with matching extreme volume.