ROKU Trade on May 21, 2019 10:44 from PriceActionBarByBar: Tradervue User Stock Trades.

Double Bottom Bull Flag (A1)
JE
ROKU
21/05/2019

Big Picture
Spy first resistance was 286 and 2 nd resistance at 287.

Intraday Fundamentals
No earnings release, however, the prior day’s high was $85.00 which is a significant level.

Technical Analysis – Long Term
Uptrend putting in all-time highs on the daily chart

Technical Analysis – Midterm
Put in a higher low on prior day 15 minute chart

Technical Analysis – Short Term
5 minute chart showed a gap spike on the open, the large bull trend bar was followed by a pullback (pause bar doji)
followed by another strong bull trend bar, leading me to believe this will be a trend from the open bull trend day, the
2 nd pullback tested the prior’s day high then continued higher, the third pullback tested yesterday’s high again,
creating a double bottom bull flag, the breakout from the top of the flag was an outside up reversal bar and also an ioi
pattern (inside outside inside), which is typically another breakout pattern, it is always good to have more than one
reason to enter a trade and having these confirmations increased my confidence in this setup.

Reading the Tape
The volume increased on the outside up bar and the buying picked up on the tape.

Trade Management
My entry is one tick above the last inside bar of the ioi pattern with my stop one tick below its low. I entered with 100
shares and took profits once the move reached the high of the day again.

Trade Review
One of the things that I could have done better was my sizing, my rules state, on my A1 trades that I will risk 30% of
my daily allowance, but because I had lost money on 3 of the last 4 trades with ROKU over the last week, I was
lacking the confidence in my reads. If I would have stuck with my rules, I could have booked partial profits at the first
target and remained in the trade since it was a trend from the open bull trend day.

Trade Idea
ROKU closed on its high which is at the top of an eight day trading range, which will also be an all-time high,
however, most breakouts fail, so a higher probability trade would be trading a breakout pullback buy setup, although,
I can see myself putting on a small trade , 5% of my daily allowance (Tier 1 trade) on the original breakout with a stop
just below the top of the channel.