Baidu ($BIDU) Long-Setup into earnings
Certainly not an unambiguous count. Going with the expanding diag shown, the proposed sideways correction can be counted in multiple ways.
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Sticking with the bull case, an alternative count to keep in mind, which would allow a deeper and longer correction
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And the (short-term) less bullish alternative:
Assuming the move at the end of 2022 as an impulse, the following correction might just not be done yet, which would easily leave room down to 100.
Assuming the move at the end of 2022 as an impulse, the following correction might just not be done yet, which would easily leave room down to 100.
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Went a bit deep, but stopped at the 78.6% fib retracement level, so the original yellow count might've played out.
A retracement might be worth a buy. The other variants shown previously should be kept in the back of the mind though, since in both of them we might've just finished an A-wave to the downside.
A retracement might be worth a buy. The other variants shown previously should be kept in the back of the mind though, since in both of them we might've just finished an A-wave to the downside.
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Noteworthy spot here
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So far developed more like shown in the update on Aug 16.
Still seeing three possibilities for the bullish case.
Something along those lines:
Or a triangle X wave like this:
Or a different variation with a triangle, where the initial impulse is counted differently (with a slight truncation in the wave 5):
I suppose one more alternative would be a mix between Nr. 1 and Nr. 3, which would have to go quite a bit longer and lower though, so not something to focus on at this point:
Still seeing three possibilities for the bullish case.
Something along those lines:
Or a triangle X wave like this:
Or a different variation with a triangle, where the initial impulse is counted differently (with a slight truncation in the wave 5):
I suppose one more alternative would be a mix between Nr. 1 and Nr. 3, which would have to go quite a bit longer and lower though, so not something to focus on at this point:
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The WXY possibility originally proposed almost half a year ago (compare Aug 16 update) might've played out here:
Holding that 100$ level (and closing the gap there) would be something to watch.
Holding that 100$ level (and closing the gap there) would be something to watch.