Ascending Triangle, Major Resistance, Uptrending Channel
The price of BIDU currently walks on the lower boarder of an uptrending channel.
Major resitance is @ 128 for more than 2 month now.
Right below the resistance it is forming an ascending triangle.
MA 50 is neutral, MA 200 in an uptrend.
RSI gives room to run.
MACD positive crossing.
Will enter above 128 if volume picks up or the resistance break is confirmed by another candle close.
TP1: 132.7
TP2: 136
TP3: 146
Major resitance is @ 128 for more than 2 month now.
Right below the resistance it is forming an ascending triangle.
MA 50 is neutral, MA 200 in an uptrend.
RSI gives room to run.
MACD positive crossing.
Will enter above 128 if volume picks up or the resistance break is confirmed by another candle close.
TP1: 132.7
TP2: 136
TP3: 146
Trade active
Note
TP1 reachedNote
TP2 reached, SL for last trade rised to 132.7 (might come back to test if resistance becomes support)Trade closed: stop reached
132.7 reached (updated SL to TP1), might reenter when it hits 128 again
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Disclaimer
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.