Top 5 Weekly Trade Ideas #3 - NVDA Triangle
NVDA has been trading in a range from about 118 - 127 recently and appears to be poised for a big move once it breaks this triangle either up or down.
For longs, you could enter now and stop below 118, or wait for the triangle break above. If it sustains above the triangle after a breakout, it's likely it'll head back to ATH. That would be a good target and you could hold runners or look for new longs if it retests.
For shorts, if 118 is broken it could be a good entry to ride down to the bottom end of the triangle. If the triangle breaks to the downside, I'd be looking at the August low for a first target and then down to the lows from Feb or April as a final target.
For longs, you could enter now and stop below 118, or wait for the triangle break above. If it sustains above the triangle after a breakout, it's likely it'll head back to ATH. That would be a good target and you could hold runners or look for new longs if it retests.
For shorts, if 118 is broken it could be a good entry to ride down to the bottom end of the triangle. If the triangle breaks to the downside, I'd be looking at the August low for a first target and then down to the lows from Feb or April as a final target.
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ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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Disclaimer
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