Monday, August 26, 2013

BTU long

$BTU called on twitter/ stocktwits at 10:15am. This chart looks good because it never broke the 1st 5 min low. THis was a pull back play. I started the position above the prior 5 min high protecting the position at about 18.35. Added a lot above the bars and trailed it tight close the prior highs. Many times it will go to prior high before getting back, but sometimes it may be few cents short of it as it happened here. Any sign of weakness, just exit... nice trade