$ROKU, trading it 1/7For 1/7, intraday trading ideas for options; For red or green market day. #options #daytrading
Break over 204.5 (entry, long), it can see 213-217 (exit)
Break below 189.5 (entry, short), it can see 176-181 (exit)
Option Trading 101:
Risk what you can lose (0.5%-5%)
Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade.
Consider following and checking out my prior posts & recaps (on twitter), have a great one. Not financial advice.
ROKU trade ideas
$ROKU trading in channel$ROKU gave up 618 retracement Friday, shit stock but trading in range for past 2 weeks. Rejected off supply zone 238/241. 224 is a key level. Puts below 227, PT 224, 220, 213. Calls above 230, PT 233, 235, 236. Also eyeing a reject at golden zone 236 or at the afore mentioned supply zone 238/241.
RokuClosed right at wedge resistance here.
I think starting the week, we'll retest 222 support (White line). If that support doesn't hold we're headed to 170 or wedge support again.
On the flip side , the accumulation of the last 7 days of candlestick has formed a possible bull flag and as long as 222 support holds that pattern is valid.
Either way roku will breakout or breakdown this week . There's not much room to range trade for much longer
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double bottom alert! 🚨 recently broke its bearish downtrend channel, followed by a double bottom bounce + retest and bounce of the trend channel.
It doesn't get much better than that! Definitely looks like the short term bottom is in to me, Id close my long position if it broke back into the bearish trend channel and didnt do a bounce!
Price targets are 240-266
goodluck! like and follow for more 💘