Chinese ADRs

I hope you sold your BIDU in premarket with a profit.. The bad job report tanked almost every stock around 8:30 AM.

Now BIDU is at 359-360. Right at the bottom of the six month trendline. This is the area we shall see a hard battle between the longs and shorts today. If long prevails, we might see quick $5 bounce from here.




Quote from eddie--d:

What's you guys' take on BIDU for tomorrow? Hope it's up. I kept 100 long on the overnight.
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I must say market profile works like a charm on this BIDU (sometimes deadly accurate). Look at the last chart, did you see that sky blue line? Guess where BIDU pulled back to? Compare it with this attachment after 10 minutes of the move.
 

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got beat up on BIDU this morning. just took a 365 exit. haven't played it since. at 10am pst got a short signal at 365 but didn't take it. what are the little square boxes with the small diamonds over them at the bottom of your chart? looks like the S/R might set in at 360-370
 
Quote from PennyTrader:

I must say market profile works like a charm on this BIDU (sometimes deadly accurate). Look at the last chart, did you see that sky blue line? Guess where BIDU pulled back to? Compare it with this attachment after 10 minutes of the move.
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How do you know when to exit the trade using market profile?
 
Have to be humbe to take profits. Here is an exmple on where to sell. If the value area is above the price you bought, don't expect the stock price passes it easily, it would be a resistence. If it is below, use it as a support (to buy on dips).


Here is a stock I sm trading in the last 20 minutes - CROX. I am using the one minute chart, the 200 period MA is around 34 (it changes) and the value area is around 34.35.

Support/resistence are dynamic depends on the trading volume at difference prices.
 

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