BIDU Trade Update

Yesterday in the BIDU update I said I'd like to see BIDU travel laterally for a little while longer to build an area of positive underlying trade in which it can rally from. So far this morning it's not about the gap down and the move back up, it's about the sideways movement as it treads water and the charts improve as I thought and hoped they would.

 This 10 min chart shows today's action thus far contributing to that lateral, "U" shaped consolidation that I wanted to see.

 This hourly chart shows you where our price formation is now and a few recent similar price formations I'd like to see this one look like.

Already there's improvement in the BIDU charts.

 5 min is leading positive today

 10 min is also leading positive today, if it keeps adding to this it should be a very nice looking long.

Even the 15 min went positive at the open and is adding a leading positive divergence. This is why BIDU needs some time to consolidate, to let these divergences build, in the end it will make for much better probabilities.