BIDU is having a solid move higher trading over 5 points higher on today’s session. Just notice on the 60 minute time frame BIDU was trading down to the 60 minute 200 moving average which is support. However, the key for the Bidu bounce was the simple ascending trendline that was drawn in from the September 2nd low to the October 2nd low. You will see that BIDU traded down to that trendline today and then staged a sharp reversal higher. Use the simple trendline as sometimes the best tools are the simple tools.
