Hello Traders, here is a long trade idea for NIVIDIA.
The market is oversold and overdue for a bounce. Yes, there is the potential that price heads lower but with the DXY approaching resistance there is a strong probability that we will see a bounce in the market this week.
NIVIDIA is approaching a key support level at $119, this is an excellent entry for a long trade.
Take profit #1 is at $130
TP #2: $143
For a stop loss: Personally I typically average down in trades like this so please use whatever risk management strategies that you typically use that suits you.
After we bounce there will likely be a rather large sell off so make sure that you don't get trapped in the trade.
Thanks everyone and best of luck trading!
The market is oversold and overdue for a bounce. Yes, there is the potential that price heads lower but with the DXY approaching resistance there is a strong probability that we will see a bounce in the market this week.
NIVIDIA is approaching a key support level at $119, this is an excellent entry for a long trade.
Take profit #1 is at $130
TP #2: $143
For a stop loss: Personally I typically average down in trades like this so please use whatever risk management strategies that you typically use that suits you.
After we bounce there will likely be a rather large sell off so make sure that you don't get trapped in the trade.
Thanks everyone and best of luck trading!