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| BTU 5 Minute Chart |
As I looked through BTU's chart on various time frames I found this one. It's a text book H & S presented here on the 5 minute but also shows very well on the 3 minute.
The neckline is the Pivot Point (20.41) with the top of the head at 21.51 that suggests a minimum move down to 19.31 and it didn't quite get there yet. I'll wait to see if it does. A bounce from there would be a higher low on the daily chart and would be a good entry. I would plan to add in size if it moved up through the 50 day sma. Clearing 21.60 looks to be a good place to fill out the position. That should also be just about the place that the 20 day moves up through the 50 day. That could provide momentum to test the 200 day.
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| BTU Daily Chart |