Looks like 
ROKU is pulling back into a classic Cup with Handle (CHW) Formation. To be a true CWH it must pullback or sideways without advancing for a minimum of 5 days. Today is day 4. The significance of the handle is that it "shakes out" weak hands so those left are mostly buyers which will allow the stock to advance again. I have this on my watch list and I'll be looking for this pullback to continue. Once it starts moving up from the short term down trend I'll look for a logical entry to go long. All TBD. Ideas, not investing / trading advice.
ROKU is pulling back into a classic Cup with Handle (CHW) Formation. To be a true CWH it must pullback or sideways without advancing for a minimum of 5 days. Today is day 4. The significance of the handle is that it "shakes out" weak hands so those left are mostly buyers which will allow the stock to advance again. I have this on my watch list and I'll be looking for this pullback to continue. Once it starts moving up from the short term down trend I'll look for a logical entry to go long. All TBD. Ideas, not investing / trading advice.Trade active
I have opened a 1/2 size position on the strength of today. Entry price 426.48. Stop below today's low. I'll be looking to bring this to a full position if it's strong into next week. All TBD.
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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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.