Short trade for NVDA following 228 Supply Zone rejection and 10/50 system indicating overall market shift to downside. NVDA has been on an extreme run lately which is characteristic of the stock but looks to have topped at the 228 supply zone and, IMO, should go back to retest 210/200 if the market direction permits.
The PreMarket Level strategy is a beginner friendly strategy designed to use the initial formation of a daily candle before market open as reference point for day trades.
It works best off of open and is able to utilized in a ranging/chop market as well as in a trending market. I.E. it can be used to trade reversals AND breakouts.
Pre 10AM we use the 3Min chart,...
1) No bias, system only
2) Don't go heavy, 2U max
3) Never average down on weekly/DT
4) Trail out, don't let green go red
5) Set a stop loss and respect it
1 explained - Don't succumb to preconceived bias for a given session. Use the 10/50 30min SPX System to set bias instead.
- 10SMA over 50SMA is BULLISH.
- 50SMA over 10SMA is BEARISH.
- Price crossing 50SMA...
