This is a very hard chart for me. I have been nonstop shortinf optipn puts everytime we reject and confrim the rejection of 269.70-270 area. Overall been looking for 255 for a big bounce long. Howver each and every time the bulls control te 264.263.70 area supprt. Normally at open we open up closer to the 270 area of reistance and it’s easier to just watch and see how the market wants to react around 10 am. This is how I have been able to manage a sweet short entry
Today nvda is opening closer to the 264 support. This can mean 2 things , one that the bears have now remained strong continuing to hold the 267.30, reistNce price as key high in nvda… and that today they may want to break it below the 264. If we get that and contiue to remain using 263.70-264 area as reistNce there will be a good short at play.
On the bullish case, if nvda can hold support at these lows of yeateday, this can flip into a nice long trade we can play up towards 270 area.
The top of the range is 270. If nvda can pop and hold support on a backtest of 270 then the longs can actually be good in that breakout.
We will have to see how nvda plays out. I see possibility of nvda creating a bullish falling wedge pattern Howver I just have this thought nvda is going to breakdown from these highs but I will play the range today until proven otherwise.
Today nvda is opening closer to the 264 support. This can mean 2 things , one that the bears have now remained strong continuing to hold the 267.30, reistNce price as key high in nvda… and that today they may want to break it below the 264. If we get that and contiue to remain using 263.70-264 area as reistNce there will be a good short at play.
On the bullish case, if nvda can hold support at these lows of yeateday, this can flip into a nice long trade we can play up towards 270 area.
The top of the range is 270. If nvda can pop and hold support on a backtest of 270 then the longs can actually be good in that breakout.
We will have to see how nvda plays out. I see possibility of nvda creating a bullish falling wedge pattern Howver I just have this thought nvda is going to breakdown from these highs but I will play the range today until proven otherwise.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.