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BIDU - Scary out the week hands and turn north again?

NASDAQ:BIDU   BAIDU INC
Context:

Swings
  • seems that major pendulum swing has fullfilled its job, since the sinus wave looks completed
    also the minor sin. wave completed

Price Action
  • orderly former flow to the downside
    pressing - major fish in the pond wants cheaper price to fill his bag
    create panic - whale create panic to collect it all from the week hands
    price stops right at a center of a reaction line, and within the center box, where former accumulation was

Outlook
  • potential support in the range of 150/160
    as sinus boxes often get washed, it's a good idea to start small and add to the position later

Trade Idea (Position Trade)
  • stopp needs to be below the box, plus some
    start small between expected support range and build on further confirmation
    profit a) at the upper MLH (P5), just little below the sliding

Trade Management
  • move B/E when Risk/Reward is @1.5
    trail below real structure, or if price explode to the north, trail below wide range bars (see Jul. 14 and Jul. 15)
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