ROKU Trade Setup Provides One-Day Windfall Profits
Roku Daily 11-12-19
ROKU 5 Minute Chart
A common question I get from new students: "But Pete trading can't be that easy."
Well, yes it is. We tend to complicate the process with the more we learn.
This chart of ROKU shows a ONE DAY setup. The inside day. Inside days are a different strategy from trading order flow; it's NOT a direction call.
Inside day breakouts (or breakdowns) are looking for an expansion in volatility. The inside day sets up a large green or red candlestick.
We are expecting a break of the inside day, but we are not calling up or down. So that's the game plan for the day.
The second step is the entry price. When do you buy or sell? Here was my call yesterday.
So that was my play, a simple breakout. That was my initial entry.
Then came the big play. After the stock "proved" it would remain strong, I looked for another INSIDE CANDLESTICK and got a perfect entry.
Which leads to a monster day.
Same signal. One on the daily chart. One on the 5 minute chart.
Keep it simple to get paid. Start scanning for inside days and you'll be surprised how many you find.
Some explode for easy trades, some from an inside, inside day. Keep those in your journal for the next day.
Pete
PS. Nice job by John W. for inspiring today's trading lesson.
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