ROKU Trade on Jun 3, 2019 12:22 from PriceActionBarByBar: Tradervue User Stock Trades.

Three-bar Reversal
JE
ROKU
June 3, 2019

Big Picture
Overall Market was Bearish
Sector was Bearish
Corresponding stocks were also Bearish

Intraday Fundamentals
No News Catalyst
ATR: 4.35
RVOL: .78
Price Range 90-91
Short Float: 11.66%
Avg. Volume 13.51M

Technical Analysis – Long Term
Lower high put in after the two-bar reversal on the daily chart with 94.96 being the resistance and 90.40 support on the daily

Technical Analysis – Midterm
ROKU ended the prior session with a tight trading range with levels 91.28 / 90.06 on the 15 minute chart

Technical Analysis – Short Term
There was a climatic two-bar reversal on the open that led to a move below the trading range of the last two hours of session, however because of the strong bull trend bar on the open, I had to be aware that the bull were around and strong so another reversal could be coming. The reversal came in spike and channel form and once a lower high was put in a trading range took form and the lower highs increased the probability of a breakout of the trading range to the downside.

Reading the Tape
Nothing unusual on the tape

Trade Management
The trade at 1pm was two bars after an inside bear bar after a big push up to the moving average. That became my signal bar and the fact that it was bear bar increased the probabilities of a profitable down move, however, the signal never triggered the market instead continued up but closing ¾ down the bar showing selling pressure, the trade was triggered on the following bar, Tier 1, with the stop being one tick above the spike at the beginning of the channel, next bar was an inside bar, putting the price action in a breakout mode, I added and now it’s a Tier 2 trade, two bars later there was a reversal bar which increased the probability of the breakout, added now a Tier 3 trade, (full size) all at the same entry price and stop. Price action began to breakdown and on the very next bar there was a flash spike that stopped me out before making a monster move down. After the breakout, there was a large two-bar reversal and pullback to a new lower high, in a bear doji reversal bar. However, doji’s are weak signal bars and after a couple of missed trades I wanted a stronger signal before taking the trade, so I waited for a bear trend bar which came on the next bar and placed a stop to short one tick below the low. Once that triggered it immediately put in a bear flag where I added to the trade making it a Tier 2 trade now and after the breakdown from the bear flag, another bear flag was put in, however, it was very close to a strong support, so instead of adding ahead of the support, it is higher probability trade after the support, which is where I added, Tier 3, now I’m carrying Full Size and ROKU proceeded to put in a monster move to the downside where I booked 2/3 profit, added another tier on the next breakout pullback short setup making it a Tier 2 trade and booked the rest of the profit going into a new low of day.

Trade Review
The only way I see avoiding being stopped out of my full size during that flash move up, would have been by placing my stop at the beginning of the spike down at 91.80, which is possible with a much smaller position size.

Trade Idea
Short below 88.92
Support at 87.80
Those are the next two levels to consider on the downside