BIDU Headwind Short at Memory Resistance
Updated
There are multiple Bearish signals on BIDU today (17th May) just before Market Close.
In Weekly CUE Backdrop Chart, Price bouncing down from Weekly Memory and also creating a False Upside Breakout at Watermark High Level. Candle Shape is Bearish with Upper Tail.
In Daily CUE Hop On Chart, the price is bouncing down from Daily Memory. It created False Upside Breakout at Daily Watermark Level. Candle Shape is Bearish. Bearish Headwind (red diamond) has appeared.
The price was at Pendulum Low yesterday! This may be an opportunity to Short BIDU at the top.
Options may be used to increase profit and limit risk.
forums.superiorprofit.co/post/bidu-headwind-short-at-memory-resistance-8510960?pid=1295706417
screencast.com/t/868ECd3s11e
In Weekly CUE Backdrop Chart, Price bouncing down from Weekly Memory and also creating a False Upside Breakout at Watermark High Level. Candle Shape is Bearish with Upper Tail.
In Daily CUE Hop On Chart, the price is bouncing down from Daily Memory. It created False Upside Breakout at Daily Watermark Level. Candle Shape is Bearish. Bearish Headwind (red diamond) has appeared.
The price was at Pendulum Low yesterday! This may be an opportunity to Short BIDU at the top.
Options may be used to increase profit and limit risk.
forums.superiorprofit.co/post/bidu-headwind-short-at-memory-resistance-8510960?pid=1295706417
screencast.com/t/868ECd3s11e
Note
BIDU fundamentals are not that great relative to its peers. As seen from Visual Fundamental Analysis below.screencast.com/t/ky0h8t0p4s0T
Trade closed: target reached
Within one day of the original post, today (18th May), BIDU fell sharply and came to Value Area in CUE Daily Hop On chart. This is the profit taking point for Swing Short and profit was booked.forums.superiorprofit.co/post/bidu-headwind-short-at-memory-resistance-8510960?pid=1295706479
screencast.com/t/3A1hfcqK58nb
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