ROKU has had a nice run up but I think some profits are going to be taken here soon and I am planning to capture some downside move.
Already in a supply zone, zoomed in we are approaching the top of the supply zone. Within this wedge, I think ROKU can give one more push up to 138 area before it drops.
Game plan: not entering anything short until 138 area is reached, giving me a better possibility of profit if price rejects this zone. Start of this rally was 108 and that will be my ultimate price target goal.
Already in a supply zone, zoomed in we are approaching the top of the supply zone. Within this wedge, I think ROKU can give one more push up to 138 area before it drops.
Game plan: not entering anything short until 138 area is reached, giving me a better possibility of profit if price rejects this zone. Start of this rally was 108 and that will be my ultimate price target goal.
I think this is going to back test the wedge. Will watch price action there because I think we will still re-enter the wedge and can still push for 138. IF that doesn't happen, then I look to the reverse; if we sell off, look for the entry for a long ... i.e., 115 ... 108.