ROKU on the 30 minute chart had a sell-off after earnings which were okay not great. Traders
reacted. The question is whether it was an overreaction. I think it was. I am looking for a slow
recovery over a week or more to at least the standard retracement level which I will call 98 as
drawn by the tool. further upside targets are 101 and 104 based on VWAP bandlines.
Buying on the discount is sometimes an excellent tool to reduce risk and use the reversion to
the mean to best advantage and seize an overreaction in the market.
reacted. The question is whether it was an overreaction. I think it was. I am looking for a slow
recovery over a week or more to at least the standard retracement level which I will call 98 as
drawn by the tool. further upside targets are 101 and 104 based on VWAP bandlines.
Buying on the discount is sometimes an excellent tool to reduce risk and use the reversion to
the mean to best advantage and seize an overreaction in the market.
Trade closed: stop reached
Down general market and price action falling lower. will go long at a lower price after the long weekend.Trade active
Market will reverse soon. Getting in early. See this link to the updated idea
Trade active
See this link explaining the doubling down idea:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.