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Strategies & Market Trends : TA setups-ex th traders
DIA 484.88-1.7%Jan 20 4:00 PM EST

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From: cthruu12/5/2004 1:52:17 PM
   of 7682
 
Next. AMR.

I liked it when it was around 8-9 range but AMR broke down with spiking oil. Besides I was already getting into DAL and passed over it. It looked excellent in 6-7 range, showing 5th wave ending at the wedge with positive divergence in the underlying indicators, and again I passed it up in favor of KMRT, GS, EBAY, etc. Now it has broken out of the inverse H&S bottom (measuring to around 13) and re-testing the breakout line. I have a feeling AMR will continue beyond the target.

Stop is very well defined at around 10, prior bottoms and neckline. If stopped out, I will enter again if a higher low and a right shoulder is formed on deeper pullback to 7-8 area.

ttrader.com\'s%20charts&id=879&d=2
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