Looks like a pretty bearish setup exists on BIDU over the course of the rest of the year, with a bottom expected early 2019 at the rectangle. In Elliott wave parlance, I expect that bottom to be higher than the spike low in 2015 to constitute a running flat (with the terminal point higher than the intermediate point) -- this would put the macro extremely bullish, while keeping the micro extremely bearish.
Trade closed manually
I took profits on my short on Friday evening because I think there is a fairly gaping gap left, which is likely to be filled shortly, now that _everyone_ is certain that China is in troubleNote
Trade closed: target reached
I don't think I'll re-enter shorts with that bottom coming in at cyclical support
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.