GOOG On Track

If you recall Thursday and Friday's posts on GOOG, what we might expect and how we can use that as an entry for a trade (short), GOOG is doing what we thought would be a likely set up; so far so good.

GOOG this morning...

 The triangle in GOOG I mentioned reminded me of the short set up in BIDU, twice and the likely move to the upside which may offer a head fake entry as GOOG is already looking weak in underlying trade. So far we have the start of that move in price.

 The 1 min 3C chart is weak.

The 5 min and beyond is where the set up is as these are negative, so a price pop out of the triangle is what technical traders are looking for and that creates the possibility, if not probability at this point that the move is a head fake giving us a better entry at lower risk.

I'd like to see a bigger move to the upside and continued or worsening negative divergences. I'll have it on my watchlist.