TRADING TIPS

BIDU Pullback Bid Area

Hubert Senters here. In yesterday’s video, we were talking about Baidu, BIDU is the stock symbol. We had a nice little fly independent breakout to the high side. And I was like don’t buy it now, wait for the pullback so I didn’t want to leave you hanging so that’s the first little part of the trade. Now, let’s talk about what do you do if you miss this bad boy. There’s a couple places that I’m going to recomment that you draw for a retracement. Now, if you know how to use Ichimoku you can just do a pullback bid at $205.18 and you’ll probably get a fill. If you don’t know how to use Ichimoku what I would recommend is draw the Fib from either the base of this little consolidation right here or from the bottom of that big vertical candle. So let’s do both and see where they line up at. What I’m going to do is I’m going to take from the dead low of this consolidation right here all the way up here to that high because it actually gap up a little bit. And you can see magically that lines up with $205.25 and $205.18. That’s a pretty close so you could probably get a bid in there. And if you can get a fill use a stop-loss and then see if it can go higher. Now, if we draw the numbers slightly different we can go from right here then the number jumps up to $211.71. So now you know your range of a nice healthy market will usually pullback that amount consolidate there for a little bit and them ramp back up. Good luck. Hope it helps. Happy New Year. See you on the next video. Hubert.

2 Comments

  1. marc adereth

    You are awesome. Thank you for your great work and Happy healthy New Year

    Reply
  2. fabian

    Happy new year to you.

    Reply

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