Possible Triangle FormationTriangles are very difficult to pinpoint until they are in wave "E" so we'll have to wait and see.
Trade ideas
BIDU Short the flavor of 2016Just me idea of course
Please confirm the trend prior to trading, Using higher time frames is best for proper analysis.
BIDUI think were coming off a double top retracement look to break the uptrend and head into the 120.00 price. Get those put options
BIDU short todayVolatility stop change
ADX signal
MACD confirmed
RMO confirmed
Bkai Koncorde confirmed
Atlas Mini indicate Bollinger Bands strong congestion
BIDU - strong, but struggling with 201.00 USD area...Wait until this area beneath 201.00 USD is cleared. We will either see a decisive push above this level, or - if the general market is in " sell-in-May-go-away " mode - a break lower ( watch 180.00 USD ).
Bidu in a critical area hereBidu really needs to have good earnings tomorrow or we see a test of that 200ma. Watching closely.
Long BAIDU at spot, and short at $290BAIDU has good harmonics in W chart.
Forming Bearish butterfly. chance to catch up the trend to form the butterfly. TP $290. TP should reach around early 2017.
16.03.27 - BIDUPrice > 20EMA: yes
Price > 50EMA: yes
Price > 200EMA: yes
20EMA x 50EMA: yes
50EMA x 200EMA: -
Price resting at 200EMA
P3
HH HL
Retrace to S for entry TP at current pricing level above 200EMA
Earning are on the horizon (just like BABA and AAPL) i.e., more potential for volatility and momentum
TP: 188.07
Entry: 179.2
SL: 174.77
2RR
BOUGHT TO CLOSE BIDU MAR 18TH 152.5/157.5/180/185 IRON CONDORClosed this setup at 50% max profit (for the rolled setup) ($62.58/contract).
It doesn't entirely make up for my early bobble of BIDU's earnings announcement date (first they said it was 2/10; then it was 2/25), but I'll take it here going into Draghi/FOMC.
Here's the entire chain:
2/25 Sold March 8th 132/137/177.5/182.5 iron condor for a $131 credit
2/26 Bought the 132/137 short put vert back for a $9 debit (post earnings announcement; near worthless)
2/29 Rolled the 177.5/182.5 short call vert to the March 18th 180/185 short call vertical for a $17 credit (price too close to short call strike with limited DTE)
2/29 Sold the March 18th 152.5/157.5 short put vertical for a $48 credit (this wasn't strictly necessary, since I received a credit for the roll of the short call side; I just wanted some protection there if price continued to shoot off into the ether).
3/9 Bought to close the March 18th 152.5/157.5/180/185 Iron Condor for a $106 debit.
Total credits minus total debits minus fees and commissions = $62.58/contract, not quite 50% max profit of the original setup, but close enough considering that I had to roll and that it was supposed to be one of those ideal "inzee/outzee" earnings plays ... .
Baidu - Swiss cheeseGot my bear boots on this week and Baidu has a heap of holes to fill.
Waiting on how we react into the bear trend line to set up a short... TP144
BIDUGot very "Depressed". Recovered nicely & had the expected pullback. On the move again here. KISS....
BIDU EARNINGS: MARCH 4TH 136/141/185/190 IRON CONDORBIDU announces earnings after tomorrow's close, so look to put a setup on in the waning hours of the NY sesh.
Now that I've got the earnings date correct (they previously "tentatively" announced a 2/10 earnings release -- sooooo annoying), here's the metrics for the setup:
BIDU Mar 4th 136/141/185/190 iron condor
Probability of Profit: 70%
Max Profit: $125/contract
Buying Power Effect: $375/contract
Notes: Naturally, you may need to tweak the setup given the underlying's price movement during the session ... .
