Resolving a 4-month old HUGE triangle to the upside by breaking through the desc. resistance line est. from ATHs=$589 back in 09/01, having a fake break-down couple of days ago (creating the necessary FOMO).
R1=recent daily resistance pivot=$536, R2=desc. resistance trendline (from ATHs)=$543, R3=major weekly/daily resistance level=$548
It was gapping above R1=$536 premarket. Premarket plan was to get "long" vs R1, for the break of R2=$543 and R3=$548, and the rally higher $560+.Strong close above R3=$548 I would hold swing size here.
Strong opening drive at the open thru R2 right into R3. RVOL>>2.5 (stock in-play).
Got long at the pullback to R2=$543, risking below $540s expecting a bit of consolidation before the next leg higher.
NVDA went fast and furius. Broke R3=$548 and put a HOD=$556.
-- Broke three major resistance levels in the first 15mins of the session
-- Big volume at the open
-- RVOL > 2.5 = stock in-play
--> I really thought it would trend higher old day
At the pullback and consoldation above R3=$548,
added to core size another two tiers, risking tight stop below R3, expecting the afternoon rally as 9EMAs@larger timeframes were playing catch up.
Broke out in the afternoon, made a new HOD but offer at $559 didn't get fill.
I didn't take any size out, and closed it when it lost R3=$548 for a b/e trade!
Disappointing:/
(-) Gave back all unrealized profit here. Maybe I asked too much here and got @@.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-11 09:34:11 | NVDA | buy | $544.170 | long |
2021-01-11 09:37:38 | NVDA | buy | $544.580 | long |
2021-01-11 10:21:31 | NVDA | sell | $551.090 | long |
2021-01-11 10:21:59 | NVDA | buy | $552.330 | long |
2021-01-11 11:20:46 | NVDA | buy | $550.070 | long |
2021-01-11 12:15:11 | NVDA | buy | $549.990 | long |
2021-01-11 15:14:32 | NVDA | sell | $546.780 | long |
2021-01-11 15:14:32 | NVDA | sell | $546.780 | long |
2021-01-11 15:14:32 | NVDA | sell | $546.780 | 0 |
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