The 60 min shows the first short position or core short in yellow, you can see the counter trend rally, the 60 min chart just fell to new lows, the purpose of a counter trend rally. I really like BIDU short here.
Monday, August 20, 2012
BIDU Update
Looking at BIDU, it has done exactly what we expected it to do since it reversed from the bottom, a strong counter trend move, I would have no problem being short BIDU right here. I prefer a little wider stop on initial positions, but I think this looks like one of the best set ups out there right now. Actually I did fill out the BIDU core equity short position.
BIDU made the head fake move above resistance, the 30 min chart is VERY sharp in its leading negative divergence
The 60 min shows the first short position or core short in yellow, you can see the counter trend rally, the 60 min chart just fell to new lows, the purpose of a counter trend rally. I really like BIDU short here.
The 60 min shows the first short position or core short in yellow, you can see the counter trend rally, the 60 min chart just fell to new lows, the purpose of a counter trend rally. I really like BIDU short here.
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