BIDU Charts

 At nearly 84% and a probable consolidation coming, it's hard to justify leaving this position open, it can always be re-opened when the climate looks a little better.

 Ultimately we got what we were looking for, a bear trap in BIDU, a counter-trend move higher than where we are now would be an added bonus and the 15 min chart suggests that is still very much a possibility, but charts below 15 min seem to indicate some consolidation and I rarely want to sit through consolidation in an options position.

 The 15 min chart and the bear trap in the red area.

 However the 1 min chart has turned negative on the day at a new leading low.

 So has the 2 min chart.

 The 3 min chart isn't even neutral, it's a relative negative divergence.

And the 5 min chart is also at a new leading low for the day, taken with near term market expectations, it seems now is the time to wrap this one up.