NVIDIA Idea

22 Agu 2023

I've been waiting to go short on Tech recently and using Nvidia as my decider.

I went short at 478.5 but only half the size I wanted because earnings report comes out tomorrow (23/08/2023) and depending on how that report come through will decide what direction the market will go. I'm speculating on lower estimations so price will come down, but I've only gone half the size because I am trying to front run the market.

Target for Nvidia is the low 400s, targeting the trend that's been holding for 231 days (as of writing this). If we do get down to the trend line (I believe we will) and break through it the next target will be $343, the previous ATH before this huge run that Nvidia has had. If we do break the trend line then a Stop Loss will be added in profit just above it and we will try ride it down as far as we can.

"I am not a financial advisor and post this mainly to keep track of my thoughts and learn from them"

23 Agu 2023

Trade aktif

Nvidia absolutely smashed earnings report which sent the market above $500

My first short open was at $478.5 in an attempt to front run the market expecting earnings to miss but they smashed through.

Only only used half the position I wanted for this trade as I wanted to leave myself with funds so I could enter another position if earnings went the opposite way to how I thought they would.

$500 was the target for my second short entry, while writing up this the price is currently sitting at $508 post market. I expect the market to pull back tomorrow at market open, people will be taking profits and closing positions after with crazy move. The market will have to correct and targeting $510/$515 & $520 as my short entry's.

Could Nvidia keep riding upwards? absolutely, but I feel it's very overcook at the moment and will correct before attempting new highs.

Congrats to everyone who was in on this run, some nice profits have definitely been made.

24 Agu 2023

Trade aktif

Added more to this short at $480, after a strong earnings report and Nvidia losing all gains made I'd be surprised if we don't break down from this level.

People will be taking profits and to go long now seems like such a risk when there's gaps to fill and levels to test.

Still got some cash aside for 515/520 but I'm doubtful we will see that

29 Agu 2023

Trade aktif

Added to my position here, seeing a small H&S pattern possible develop on the Hourly chart.

Personally for me anything above 480 is good to go short but keeping position relatively small in comparison to the trading account. Nvidia can still run so better to stay on the safe side of caution than to get caught out by greed

31 Agu 2023

Catatan

Still maintaining shorts, price looks to be exhausted at these levels

Too high to buy IMO

Time will tell

7 Sep 2023

Trade aktif

8 Sep 2023

Catatan

Short term uptrend (seen in my other chart) has broken, retested and come back down. Next target is the weekly trend, failure to hold this would mean a bigger move to the downside.

11 Sep 2023

Catatan

Right now we are playing on that weekly trend which is a massive trend for Nvidia. Breaking this should lead to our first target at $386

15 Sep 2023

Catatan

On the Hourly we have broken the weekly trend which is massive for Nvidia and will need to hold. However, because of the strength of this trend line we will need to see it break on the daily or even better on the weekly. As it stands right now I have no doubt that we will see this trend break on both timeframes and that the hourly break is an early indicator on what's too come.

Right now I'll be planning on buying some calls for the 460 level as a hedge against this position, I will also buy some December puts for around the 330 level to potentially capitalise on this breakdown.

NFA

21 Sep 2023

Trade aktif

Nvidia has broken the weekly trend on the daily timeframe that has held since January 2023. Our target of $386 is looking very promising and likely to hit next week if markets keep going the way they are.

SPY is weak and struggling to hold key supports, Apple looks ready to give way any moment. Overall the markets are looking weak and people are losing confidence in them, going long or buying stock now seems way to risky for the potential loss you could have compared to the profits you could make.

Nvidia Targets are $386 for the first target, falling below that level to fill the Gap all the way down too $314, I reckon we could see some price action back up at that point but inevitably it will look for $263 as its next level of support. Stop Losses will be placed within profit after Target 2 has hit. Here are all my targets:
Target 1 - $386
Target 2 - $334
Target 3 - $280
Target 4 - $132

I will try and ride Nvidia as far down as I can buy simply putting stop losses in at the levels I'm happy, probably $334 is where I will start adding the SL.

6 Okt 2023

Trade aktif

This trade is still open, I know Nvidia is have a pump at the moment but we saw today how quickly that can sell off, S&P Looks weak and when that finally goes, Nvidia will quickly fall through.

This move is all because the S&P had a big move today, I still see these markets going in one direction and thats down.