Traded 2 round of Roku yesterday. The first round, I made $1500 and then I saw the stock hit the supply zone again and started to short again. This time round, after touching the supply zone, it trended higher and higher and looked like there wasn't any ceiling. I was fearful but I believed that it should come down first and hence decided to short. Went under pressure immediately and in a unrealized loss of $2200++
Market opened and Roku suddenly started to break down. The 2 bars circled in the 5 minute chart looked like it was about to tank. Suddenly, I saw some turning in the stock and decided to lock in profits first. At one glance, it looked as though the stock is breaking down but to only realized that it was a flush after it reversed it's way up. Luckily, I managed to lock in profits first or it would have turned to a big loss. The reaction time needs to be quick and fast to avoid unnecessary mishap. Tough trade but managed to escape without any bruises.
Ron K - A Game Changer
