5 Minute Chart - nice first bar
One Minute Chart -
(Double Click Picture for a Larger View)
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Stock: BIDU
Entry Bar: none
Time Frame: 1 or 5 minute time frame
Entry Green Line: 427.12 SHORT
Stop Red Line: 443.20
Result: no trade
Setup Grade:
Notes: As you can see on the Daily Chart BIDU was gapping into a top. I was looking for a short setup. While it looked great on the 5 minute chart I shied away with the one minute chart looking very extended. Stay picky with your trades and never chase. Missed money is better then lost money.
Time Frame: 1 or 5 minute time frame
Entry Green Line: 427.12 SHORT
Stop Red Line: 443.20
Result: no trade
Setup Grade:
Notes: As you can see on the Daily Chart BIDU was gapping into a top. I was looking for a short setup. While it looked great on the 5 minute chart I shied away with the one minute chart looking very extended. Stay picky with your trades and never chase. Missed money is better then lost money.
* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.
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