Lot of longs getting burned on this name.
Breaking below key daily support, bulls need to defend quick or could get ugly.
Currently looking for a higher low above 116.26 as that's our closest daily support. ROKU has been a notable laggard vs the market lately and as you can see, when SPY sells ROKU gets taken down easily. Bulls make the case that no news is...
Daily chart looks very bearish but looking at the 1H can make you skeptical. Higher lows on the money flow while price made a triple low, Oversold hourly RSI.
Market strength or weakness will absolutely help ROKU go either direction. The lack of support is concerning for longs but this trade may already be crowded short, a reversal is in the cards if we hold...
This bad boy traps longs and shorts alike.
Who will be trapped in the next episode of ROKU?
1. More longs?
I like 133 as a low and the volume has been weak on these sell days so It could take any upgrade at this point to send this thing over 150. Or it could easily go back to 127 first.
Love this big mover stock.
We came down first thing this morning to test 127.56. Got to 127.22 and immediately shot up making it extremely likely that LOD was in right off the start. The thing with ROKU is that it can shoot up then shoot back down just as fast so at least we have some decent support on our side. Keeping a close eye on the consolidation this...
Volume profile showing more than average buying around the 1510 mark. It makes sense to say that if we were to lose the higher low pattern and break 1510, some longs would be forced to liquidate and sellers could get an opportunity.
This is simply an analysis I made using the volume profile indicator. There is a similar analysis to be made on TSLA stock, look at...
Watching inventory report reaction, no position before that. R/R Currently favoring bears with 61 resistance being an important level. Green 4 days in a row + Solid resistance.
Watch for first red day.
crazy action today. That was likely some short covering this morning up to the 1520s. Bears came back strong. This looks like a bit of a falling wedge so hopefully bulls will bring this back up and form another lower high or hourly equilibrium.
Broad market is waaaay at the tops so I imagine if it starts to sell it would give more fuel to the gold bulls. Gold...
1500 proving to be a good psychological area. Yesterday we lost the daily uptrend which signals that weekly consolidation could be in the cards. However 1500 being a good area for shorts to cover/dip buying means that we could anticipate a bounce into next week.
1500 breaking today is unlikely but if that were to happen, stops would be triggered!
Congrats to anyone who shorted that double top. Nice profits on NUGT puts... Supports incoming. Bulls need to defend 1516.77 first, most likely see a bounce on the first attempt if selling pressure starts to drop. That is an important level because it would show the loss of the 4H uptrend, something gold hasn't seen since this whole run up.
I absolutely love this area for a lower high/double top. Intra day action still favoring the bulls but eyes wide open for an entry...
I'd be watching for a clear bearish diversion/ a bear break of the recent tightening patterns up here. That would increase the odds of this being a lower high. Hard to be bullish at these levels, anyone agree?
Potential hourly bear flag if we can't get above these upper wicks. It's an important skill as a trader to realize what kinds of price action are better left for sitting on our hands.
Keep eyes on #GLD #DUST #NUGT