• Trinity Industries TRN swing trade long

I like this particular chart pattern – essentially you have an assending triangle within an assending triangle and both of them are breaking out at the same extact time. 

You can’t be that!

So get long as close to $43 as you possibly can – once you do that the risk is pretty tight and by putting a stop-loss at $41.88 you only stand to lose around 2% and change if the trade goes against you.

As for the broader market – I have scaled back quite a bit in my holdings. Currently I an net short – which might be the first time that has been the case since February of this year. 

But when I say I am net short, that means I am currently holding one long position and two short positions and I’m comfortable going into Monday with that setup. If the market decides to continue to rally, well, then I’ll add more exposure to the long side. 

Nonetheless, I am not worried about the fireworks that the market is bound to give us next week once Congress is back into session. 

Here’s the trade setup for Trinity Industries (TRN):

Trinity Industries TRN swing trade long 

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