ROKU Trade on Jun 11, 2019 10:34 from PriceActionBarByBar: Tradervue User Stock Trades.

Double Bottom Pullback
JE
ROKU
June 11, 2019

Big Picture
Overall Market was Bullish
Sector was Bullish to Neutral
Corresponding stocks also Bullish

Intraday Fundamentals
No News Catalyst
ATR: 4.70
RVOL: .75
Price Range: 100-104
Short Float: 10.49%
Avg. Volume: 13.56M
Institutional Own: 71.40%

Technical Analysis – Long Term
Daily chart showed an inside bar after the breakout to an all-time high, then there was a breakout of the inside bar, however, it did not have an follow through yesterday, which is a sign of weakness and increases the probability of a test of the bottom of the spike.

Technical Analysis – Midterm
The 15 minute chart yesterday put in lower highs and higher lows and came to an apex by the end of the session, increasing the probabilities of a breakout (up/down) that would test the trend extreme

Technical Analysis – Short Term
The session open with a breakout of the triangle to the down that exceeded the extreme of the pattern, once the target was hit, the market generally reverses, possibly putting in a low of day.

Reading the Tape
Watched the level 2 for order sizes

Trade Management
ROKU put in a double bottom at 9:55 and 10:15, and then pulled back, and a double bottom pullback is a tradeable pattern, and very similar to yesterday’s price action around this same time. I went long one tick above the 10:30 bar and the measured move for the double bottom pullback was 100.5. I added Tier 2 above the high of the next bull bar and added Tier 3 above the high of the next bull bar to bring my position to full size, as the trade kept moving in my favor. I booked one tier at the first resistance (the high of the 2nd, 3rd & 4th bar). Got stopped out of the rest of my position at breakeven on my avg price, (I pretty much talked through my other trades in discord ha)

Trade Review
I did a better job of flipping and the market flipped and then getting back long when prices began to climb, however, I could have gotten long above the 12:15 bar as it was a good place to get long after a sell climax, however, I did use that leg up as a way to measure the move of the next leg after seeing the sideway actions, versus a down move to correct that parabolic bull leg.

Trade Idea
ROKU ended with a bull flag; will long the open above the closing bear channel.