David_Jack

ROKU wave 5 for swing trade

Long
NASDAQ:ROKU   Roku, Inc
ROKU might be setting up for a wave 5 upward. Price is at the 200sma and seems to have support at this level in the last few trading sessions. A breakout and takeout of the last bearish volume is what I expect next trading session. Entry is the break above last bearish candle with a stop below. If trade is not triggered I will cancel unless a hammer candle forms, and will change my entry to just above the hammer with stop below.
Order cancelled: ROKU did not play out according to my plan. The trade never triggered and the rules say I must cancel it. A hammer candle never appeared so I'll look for another entry if it presents one in the future.
Comment: Gongrats to anyone who took an alternate entry to get in on this powerful wave upward.