Themes once again provided a solid opportunity for trading $NVDA. At Point 1, this is a textbook bearish signal. Generally speaking, large selling flows and weaker bounces. However, I was stuck in the mindset of us being in a strong market cycle, so I did not capitalize on the opportunity.
At Point 2, the exact same behavior was forming: large selling flows with weaker bounces. Did I think it was going to happen again? Absolutely. This was a heavier conviction trade, so I sized in pretty large. I entered in slightly too early, but had an average contract price of $1.01.
After the dump, I exited half at $1.71 and saved half for a potential $NVDA fade, but no luck on that. Exited final piece at 50% reclaim of Game Over candle at $1.22. A third opportunity potentially presented itself, but where the "*" is on the chart, that was a behavior change (i.e., theme change). Typically, this would have warranted a valid entry signal, but given how weak $NVDA was today, I wasn't interested on the long side from a R;R perspective.
We will see what tomorrow holds…
A $2,000 $NVDA Trade using Themes
byu/Theme_Options inoptions
Posted by Theme_Options