Downs and Ups

Here are a couple of trades to kick off the brand new week — one in each direction. The first one was old friend ROKU:

This was definitely a messy old setup, but ROKU is gonna ROKU and we know a move down on momentum in this stock is likely to give us something to work with. Which it did, offering a quick grand after exiting on the bounce and loss of momo.

It wasn’t all downwards though. Here was a long trade on another old fave FB:

This came much later in the session. The setup was a little bit friendlier, with several signals converging to add confidence to the entry, and a very clear target in that nice blue line.

The price got through the line and I held on to the next bar to see if it would be further, but the momentum wasn’t there so I got out pretty much bang on where I imagined it might end up. That produced a tidy $800 profit.

As regular readers of this blog know (and readers of my books also know), I usually only trade the morning because I’m lazy and because frankly after lunch I find it tough to concentrate on a chart. I use the afternoons to get on with other things. I’ve been using a lot of afternoons (and some mornings and weekends) on another project recently. I’ll be sharing more about that soon.