Bidu has been in a nice uptrend. It gapped up today but soon formed a shooting star on the 5 min. I noticed the shooting star but decided not to take counter trend trade but when it broke the opening low, I could not resist and shorted it. I have reduced my R to 0.4 till I can make up some of my recent losses. It also may make me focus on execution. My target on this trade was 20 EMA on 15 min. chart which was also 2R (actually 0.8R of my usual R). Just after the entry, BIDU moved against my entry and I thought it would stop me out but luckily it did not. Thanks BIDU. Once it moved to 1.5R, I moved my stop to 1R and exited my position at 2R.
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