ROKU - This is simply a BUY level.
Put aside the tapering and my strategy and algorithms altogether - If I only traded supply and demand and support and resistance levels - this would be a level I would buy! Obviously we have to be more specific than just '"buy" and that's where what I do comes very much in handy in determining WHEN to buy!
In this case, since we already profited and are still working a position from before the pop last week, I will be playing this trade a bit differently as I have the opportunity to add new runners to an already long term position.
If we do see orange activated and respected, we will look for confirmation, and expect a play to the high $60's where we can take profits and continue to work and build our position.
Also - if anyone trades without volume on their chart - Don't. It's one of the two constants that everyone sees. Volume & Price - start to incorporate it as much as possible in all time frames as it gives great indications to intention and true levels of s&R
Hope this was helpful
Happy Trading :)
In this case, since we already profited and are still working a position from before the pop last week, I will be playing this trade a bit differently as I have the opportunity to add new runners to an already long term position.
If we do see orange activated and respected, we will look for confirmation, and expect a play to the high $60's where we can take profits and continue to work and build our position.
Also - if anyone trades without volume on their chart - Don't. It's one of the two constants that everyone sees. Volume & Price - start to incorporate it as much as possible in all time frames as it gives great indications to intention and true levels of s&R
Hope this was helpful
Happy Trading :)
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