There’s not a lot to say about the trade I’m posting today. Anyone who read my previous post about ROKU and who was watching this stock will undoubtedly have seen what happened. Here’s the chart:
There were two yellow flags in the setup. One was the fact we had to cross the MA, which in the event the price managed with ease.
The second was the need to get through the previous day’s low. That took a little bit longer. Technically there was a potential entry around 10:15am, but there was no momentum and that blue line proved troublesome. Staying out was the right choice.
The true entry came after 10:30 when volume and momentum picked up. All the ducks lined up for a good short. Good turned into epic, and days of news and speculation took the price crashing downwards. In under fifteen minutes we hit the magic $100. I got out then, because as we can see from the chart, momentum swung the other way, and I’d made more than enough.
Making more than five thousand dollars in fifteen minutes is always nice, but of course what really counts is the execution, not the profit or loss.
There was a good opportunity for a second entry about an hour later, though I was long gone by then.