$ROKU was up in the premkt after 3 days positive move to the upside. I was looking for a move to the upside @ open and a retest of of HOD rejection to start a small short position. I took the trade just below the first topping tail rejection with a stop above the high. $SPY was still pulling back so I figured $ROKU would began doing the same. Price held just below the topping tail and reverse back to the upside and stop me out. $ROKU had a significant relative strength and continue all day to the upside.
This trade should have really been long and not a short play. My bias to the down side was only due to my stubbornness to accept that although $ROKU had bad earnings, buyers were still stepping up and pushing price to the upside,
I should have changed my bias to the upside and capture a bigger move.
I need to be more patient and wait for a signal before I take any trades especially reversals going against the trend. $ROKU was clearly up for the day and was showing any sign of weakness