Looking for another drop here into the 200sma and my buy zone (green box).. I am hoping patience will pay with max risk to reward being in that zone. One can nibble in the 366 - 356 area. Targets would be to 390/394/400.
Note
Still waiting for some confirmation of buying interest. Would like to see some sort of lower time frame reversal pattern. RSI is still above 30 on the daily and hasn't touched the 618 fib yet.Note
No buyer to be seen. Staying away. If it pops I can always catch it on the second day.Note
Watching the close here. If it closes with a nice recovery candle my entry tomorrow will be on the break of todays high. If it closes with weakness today the play is off.Note
ROKU needs to break yesterday's high to be in play.Note
I use the fibs and ema cloud for targets on a long entry. Depending on the size used stops should be today's low or yesterday's low for swings. Intraday you can use something like the ema cloud on the lower time frames as your stop. Note
That's a stop for me threaten todays low. Will look to re-enter if it sets up again.Note
Potential re-entry on break of 366.37.
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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.