Wednesday, July 25, 2012

BIDU Update 2

When there's new important information, I try to bring it to you. So here's BIDU since our last update as it was building a positive divergence in to a pullback.


 The 60 min candle I pointed out ended up a star, another reversal candle and actually reversed the BIDU trend as mentioned in the last post, at least for the 60 min chart thus far.

 The 1 min positive divergence continues to grow and is now strongly leading positive, it has migrated as well as a healthy divergence should.

 The 2 min chart is now also strongly leading positive

 As is the 3 min chart

Now the 5 min chart which previously at the last update had not seen migration to this longer timeframe, is now going positive.

I like the looks of BIDU thus far, it seems to be on track for our original expectations of a counter trend move higher, taking advantage of the bear trap to give it momentum.

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