Online Stock Trading | Baidu.com - Daily and 15 080906
Like the trade last week in Apollo Group Inc., the online stock trader took a BS2 on Baidu.com, BIDU today. The pattern on the daily stock chart of Baidu.com shows the stock in a nice downtrend. Entry point is a lower low which the stock trader received today.
Technical analysis called for an entry below the first lower low after the bounce on the 15-minute chart. The trigger hit below 72.27 and the online stock trader was filled short a little higher at 72.45. He placed a stop at 74.9 above the previous day’s high. Target for the 1st 1/3 of the trade would be 2 points or around 70.5 The stock trader will lower his stop loss using pivots.
Profits on the first 1/3 were filled at 70.43 for close to 1R. The trailing stop moves to a penny above today’s trading high of 74.50.
August 10th, 2006 at 10:40 pm
[…] The online stock trader has shown an example of a Bear short 2, or BS2 pattern when it was traded on BIDU’s 15-minute chart, and the 5 minute chart of APOL. The online stock trader will sometimes trade a Failed Bear Short 2, FBS2, and go long it. Here’s an example of this stock trade. […]
August 13th, 2006 at 10:19 pm
[…] In previous trade for Baidu.com, the trading stop was raised to 74.51 for the next day’s online stock trading session. The 5-minute candlestick chart shows the trading action the next day. […]