Looking for a pull back to 111-110, before possibly bouncing.
Keep in mind there's two gaps around 120-124.
There's a large H&S forming on the chart, which to me looks extremely bearish, however if earnings cause a failure - we could easily see NVDA go over 150.
I've been holding 9/20 145 calls that have been up- trimmed many and will be holding shorter term puts in the meantime as a hedge.
If the H&S plays out it will inevitably lead to 50... possibly lower.
However, NVDA is infamous for H&S failures, which happened last time pre-earnings.
Keep in mind there's two gaps around 120-124.
There's a large H&S forming on the chart, which to me looks extremely bearish, however if earnings cause a failure - we could easily see NVDA go over 150.
I've been holding 9/20 145 calls that have been up- trimmed many and will be holding shorter term puts in the meantime as a hedge.
If the H&S plays out it will inevitably lead to 50... possibly lower.
However, NVDA is infamous for H&S failures, which happened last time pre-earnings.
Note
As stated before, there is a gap at 120-124. If the inflation data eases pressure in the market and more shorts close positions, we could see this pass 120. Note
Still long for September - remember H&S can fail. 
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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.