Thoughts on Baidu?
Hey guys, I have an interesting setup here $BIDU-SW(09888.HK$
On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop to sell entry at 130.7 where the overlap support is. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to take profit at 104.0 where the swing low support and 78.6% fibonacci projection is. Alternatively, price could rise to stop loss at 155.6 where the swing high resistance and 100% fibonacci projection are.
Entry: 130.7![]()
Take Profit:104.0![]()
Stop Loss: 155.6![]()
$Baidu 5xShortSG230330(DBJW.SG$
$Baidu 5xLongSG230329(DLEW.SG$
On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will drop to sell entry at 130.7 where the overlap support is. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to take profit at 104.0 where the swing low support and 78.6% fibonacci projection is. Alternatively, price could rise to stop loss at 155.6 where the swing high resistance and 100% fibonacci projection are.
Entry: 130.7
Take Profit:104.0
Stop Loss: 155.6
$Baidu 5xShortSG230330(DBJW.SG$
$Baidu 5xLongSG230329(DLEW.SG$
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