Thoughts on Baidu?

On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that prices will drop to sell entry at 130.7 where the overlap support and 23.6% fibonacci retracement are. Once there is downside confirmation of price breaking entry structure, we would expect bearish momentum to carry price to take profit at 104.0 where the swing low support and 78.6% fibonacci projection are. Alternatively, price could rise to stop loss at 155.6 where the swing high resistance and 78.6% fibonacci projection are.

Entry: 130.7

Take Profit: 104.0

Stop Loss: 155.6