NVIDIALong
Retest of the Lows, Rocket Ride up from Here?
Here we are. Just you, me, and a strange serious of price action events with NVDA...
So, how do we read this in the short-term future?
I always start with a Daily Chart (1D). MACD and RSI are overdue for a little pop towards the upside. After a retest of the lows, NVDA bounced off what we can now call Support at 97.
Our initial price targets still stand. In the short-term, 511. After that, the next leg up is 514.
Today, the market manipulators started to release the recovery news. Keep in mind, it's Ms. Market's job to ensure growth and stability in the market. Jobless claims were presumably "not as bad" as they previously stated. Right, okay.
Anyway, who cares? We're not trading feelings, we're trading options.
Moving forward, the market closes higher swinging into Friday as we use volatility as our friend to secure profits with expirations further out. I'd call this phase, "safe swinging".
Let's see how the market reacts EOW. Thanks for tuning in.
So, how do we read this in the short-term future?
I always start with a Daily Chart (1D). MACD and RSI are overdue for a little pop towards the upside. After a retest of the lows, NVDA bounced off what we can now call Support at 97.
Our initial price targets still stand. In the short-term, 511. After that, the next leg up is 514.
Today, the market manipulators started to release the recovery news. Keep in mind, it's Ms. Market's job to ensure growth and stability in the market. Jobless claims were presumably "not as bad" as they previously stated. Right, okay.
Anyway, who cares? We're not trading feelings, we're trading options.
Moving forward, the market closes higher swinging into Friday as we use volatility as our friend to secure profits with expirations further out. I'd call this phase, "safe swinging".
Let's see how the market reacts EOW. Thanks for tuning in.
Note
Formation of a morning doji candle pattern into the 8pm marker.Note
Next week, 8/12 - 8/16 should be a Rocket Ride week for NVDA...
This is a great week to secure profits.
Note
Today was a banger. Hit the first target of 111. Note
Yesterday, we initiated the rocket ride...
Today we rode the wave towards the 2nd target, 114.
Will we touch 120 sooner than later? That's the question we all want to know.
Note
The rocket ride ensues... If you took this trade, congratulations. It's a banger.Note
Testing 130 and the ROCKET RIDE still ensues. Note
Success.
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