Comments on: After Looking Strong BIDU Begins Falling off a Cliff http://blog.afraidtotrade.com/after-looking-strong-bidu-begins-falling-off-a-cliff/ Helping traders overcome fears and emotions in trading Thu, 09 Sep 2010 15:56:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bob http://blog.afraidtotrade.com/after-looking-strong-bidu-begins-falling-off-a-cliff/comment-page-1/#comment-212789 Bob Wed, 23 Dec 2009 16:52:57 +0000 http://blog.afraidtotrade.com/?p=5263#comment-212789 After what appears to have been a five wave expansion, the breaking of the 20 & 50 EMA is certianly a bearish development. <br><br>At the moment, price may be near a level where it can find support. Go back to the mid-October gap down. Notice the retracement that occured into early November. The candle bodies reached $398 before a doji formed and a reversal occured. Key on this doji and look at other price swings that have inflected at this level; over time it has been a key level of support & resistence (In late September, a bull flag formed that found support at this level. The expansion rally that followed, retraced into support at this level too). It should have an influence here too. Watch for a pause here and a possible retracement up into the converging 20 & 50 EMA as they roll over the top and suppress. Alternately, price could gap down from this level which would indicate a more severe and bearish tone.<br><br>Other key price levels to watch, which are located just underneath, include $384 (two gaps and a doji have formed at this level) and $370 (two major price retracements have found support at this level and the July rally topped there too).<br><br>Merry Christmas All! After what appears to have been a five wave expansion, the breaking of the 20 & 50 EMA is certianly a bearish development.

At the moment, price may be near a level where it can find support. Go back to the mid-October gap down. Notice the retracement that occured into early November. The candle bodies reached $398 before a doji formed and a reversal occured. Key on this doji and look at other price swings that have inflected at this level; over time it has been a key level of support & resistence (In late September, a bull flag formed that found support at this level. The expansion rally that followed, retraced into support at this level too). It should have an influence here too. Watch for a pause here and a possible retracement up into the converging 20 & 50 EMA as they roll over the top and suppress. Alternately, price could gap down from this level which would indicate a more severe and bearish tone.

Other key price levels to watch, which are located just underneath, include $384 (two gaps and a doji have formed at this level) and $370 (two major price retracements have found support at this level and the July rally topped there too).

Merry Christmas All!

]]> By: Bob http://blog.afraidtotrade.com/after-looking-strong-bidu-begins-falling-off-a-cliff/comment-page-1/#comment-211714 Bob Wed, 23 Dec 2009 10:52:57 +0000 http://blog.afraidtotrade.com/?p=5263#comment-211714 After what appears to have been a five wave expansion, the breaking of the 20 & 50 EMA is certianly a bearish development. <br><br>At the moment, price may be near a level where it can find support. Go back to the mid-October gap down. Notice the retracement that occured into early November. The candle bodies reached $398 before a doji formed and a reversal occured. Key on this doji and look at other price swings that have inflected at this level; over time it has been a key level of support & resistence (In late September, a bull flag formed that found support at this level. The expansion rally that followed, retraced into support at this level). It should have an influence here too. Watch for a pause here and a possible retracement up into the converging 20 & 50 EMA as they roll over the top and suppress. Alternately, price could gap down from this level which would indicate a severe bearish tone.<br><br>Other key price levels to watch to watch which are located just underneath include $384 (two gapps and a doji have formed at this level) and $370 (two major price retracements have found support at this level and the July rally topped there too).<br><br>Merry Christmas All! After what appears to have been a five wave expansion, the breaking of the 20 & 50 EMA is certianly a bearish development.

At the moment, price may be near a level where it can find support. Go back to the mid-October gap down. Notice the retracement that occured into early November. The candle bodies reached $398 before a doji formed and a reversal occured. Key on this doji and look at other price swings that have inflected at this level; over time it has been a key level of support & resistence (In late September, a bull flag formed that found support at this level. The expansion rally that followed, retraced into support at this level). It should have an influence here too. Watch for a pause here and a possible retracement up into the converging 20 & 50 EMA as they roll over the top and suppress. Alternately, price could gap down from this level which would indicate a severe bearish tone.

Other key price levels to watch to watch which are located just underneath include $384 (two gapps and a doji have formed at this level) and $370 (two major price retracements have found support at this level and the July rally topped there too).

Merry Christmas All!

]]> By: pipercolt http://blog.afraidtotrade.com/after-looking-strong-bidu-begins-falling-off-a-cliff/comment-page-1/#comment-211710 pipercolt Wed, 23 Dec 2009 03:05:47 +0000 http://blog.afraidtotrade.com/?p=5263#comment-211710 But if you connect the bottom trendline, you could take a shot at a long here with a tight stop as long as it doesn't break. But if you connect the bottom trendline, you could take a shot at a long here with a tight stop as long as it doesn't break.

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