BIDU was trading lower on the session into the 10:00 am pivotal time frame. Then it staged a nice bounce which is common for stocks to do when they trade lower into a pivotal time frame. It rallied into the 1:00 pm hour and began to sell off. Why did it sell off? Simply put it was a continuation pattern after a 3 hour consolidation move inside the last strong red(down) candle. It could never close above the 10:30 red candle or bar and continued to move to new lows. Look for this pattern as it is very effective.
