NVDA: Short in 3 days on close

Dec 15, 2016

I'm looking to short NVDA here, but need further confirmation of the top. If we get a smaller range day today, and we see a new daily low after that, or if we get a new daily low right away tomorrow, I'll short a half position then, risking $10.86 per share. I'll start building a position after tomorrow's close if the range is smaller than today's, and spread the selling over 1-2 weeks. Alternatively, if we see that within 3 bars, price doesn't hit 107.97, we'll get a low risk short signal, which would be a good confirmation of our fundamental thesis.
You can check out the post by MichaelGoldin on the subject, he spotted this trade during one of our conversations at the Key Hidden Levels chatroom.

Good luck,

Ivan Labrie.

Dec 17, 2016

Note

One more day to confirm the failure of the short term momentum here. If we don't hit 107.97 by Monday's close, we can add to shorts and reduce stops.

Dec 23, 2016

Note

I'm out since we hit the bullish target quickly.

Dec 28, 2016

Trade active

Shorted at $110.90

Jan 3, 2017

Trade closed manually

Banked the short (for now)