{"id":4998,"date":"2010-05-24T16:53:02","date_gmt":"2010-05-24T20:53:02","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=4998"},"modified":"2010-05-24T16:53:02","modified_gmt":"2010-05-24T20:53:02","slug":"important-intraday-resistance-level-trade-bidu","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/important-intraday-resistance-level-trade-bidu","title":{"rendered":"Important Intraday Resistance Level Trade (BIDU)"},"content":{"rendered":"<p>BIDU came off from 73.30ish after a gap open. \u00a072.50 offered resistance on the tape. \u00a0I started a small short. \u00a0BIDU came off another point. \u00a0But then things got even more interesting&#8230;&#8230;.<\/p>\n<p>72.50 was a level that we spotted on the tape. \u00a0And BIDU traded off another point from this weakness and resistance level we spotted on the tape. \u00a0But BIDU came back to this important intraday resistance level of 72.50. \u00a0I shorted again and this time with a little more size.<\/p>\n<p>72.45 showed weakness. \u00a0And then a huge offer entered our open book at 72.50. \u00a0I shorted some more.<\/p>\n<p>I am not a big fan of shorting in front of just a big offer. \u00a0For this trade I saw weakness on the tape previously at 72.50. \u00a0I saw some more weakness at 72.45. \u00a0The market overall was near a resistance level from Friday at SPY 109.30ish. \u00a0BIDU had more room to fill in the gap. \u00a0On the long term chart 65 could be revisited. \u00a0AND there was a bid offer in our open book at 72.50.<\/p>\n<p>BIDU closed near 71, filling in the gap. \u00a0Some on our desk were able to catch most of the move.<\/p>\n<p>The above is an intraday resistance level trade. \u00a0Perhaps you can make this trading pattern your own.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/BIDU-72.502.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-5001\" title=\"BIDU 72.50\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/BIDU-72.502-300x186.png\" alt=\"\" width=\"300\" height=\"186\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/BIDU-72.502-300x186.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/BIDU-72.502.png 958w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BIDU came off from 73.30ish after a gap open. \u00a072.50 offered resistance on the tape. \u00a0I started a small short. \u00a0BIDU came off another point. \u00a0But then things got even more interesting&#8230;&#8230;. 72.50 was a level that we spotted on the tape. \u00a0And BIDU traded off another point from this weakness and resistance level we spotted on the tape. \u00a0But &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/important-intraday-resistance-level-trade-bidu\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[545,30,50,1015,18],"class_list":["post-4998","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-bidu","tag-prop-trading","tag-proprietary-trading","tag-resistance-level","tag-smb-capital","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Important Intraday Resistance Level Trade (BIDU) | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/important-intraday-resistance-level-trade-bidu\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important Intraday Resistance Level Trade (BIDU) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"BIDU came off from 73.30ish after a gap open. \u00a072.50 offered resistance on the tape. \u00a0I started a small short. \u00a0BIDU came off another point. \u00a0But then things got even more interesting&#8230;&#8230;. 72.50 was a level that we spotted on the tape. \u00a0And BIDU traded off another point from this weakness and resistance level we spotted on the tape. \u00a0But ... 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