A quick one to end the week’s trading. Here’s BIDU:
This trade was slightly unusual in that I traded into the EMA, which is something I generally avoid. But the EMA is only a yellow flag, not a red one. With plenty of other green flags around, I judged that the odds and probability were sufficiently in my favour.
As always, I was ready for a very fast exit. The advantage of these kinds of trades is that you know very soon after entering if it’s working out or not. If it starts going against me right away, I’m gone.
In this case, I was on the right side of the momentum and out as soon as that faltered around a logical exit.