NVDA Trade on Jun 5, 2020 12:02 from J_Matrix: Tradervue User Stock Trades.

$NVDA has pulled back from all time highs off recent good earnings reaction and consolidated for 5 days slowly grinding up and holding strong on the daily chart. The stock has recovered it's 9EMA on the daily chart and is resuming it's uptrend.

The idea is to find the potential break out day of this 5 day consolidation and get long on the intraday swing.

The price action on the intraday indicated that the stock was strong and trending healthy. Price was holding and consolidating above VWAP, the 50EMA, and the 200SMA on the intraday.

Tape was holding 354.40-354.50 bid support looking to break out 355.

The chart pattern was an ascending triangle flat top break out.

This is one of my favorite plays with edge so I took a confident share size on the initial buy. The 11:56am candle gave me conviction that this tight consolidation range 'should' hold. The low of this candle was my stop out point. 354.02

I almost got faked out at 12:10:54pm. I watched the tape and quickly realized that the quick pull in was the initiation move for the breakout so I quickly added back in my size.

As soon as my trade was right, I peeled off the majority of my size too quickly at 12:12:14pm. I think this was cause from the knee jerk reaction of the fake out and my over confident sizing.

After that though, I was able to hold thru with the rest of my size as all the way to my intended target of 358. 358 was the target as the 2 hour chart shown multiple tops at that price point.

Shares traded: 1800
PNL: 280