Nvidia ‘Buy’ At 106.98 Support Level
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Here’s an Nvidia trade setup I recently took to demonstrate using one of my favourite technical analysis tools, support & resistance.
Trade Setup
- 1-day timeframe for a swing trade
- Price hit the 106.98 support level
- I was bullish Nvidia, so I entered a long (buy) position
- I set my take profit at the 116.66 resistance level
- I set my stop loss for an equal 1:1 risk-to-reward
- The trade took 2 days to hit my TP 🎯
Advanced Risk Management
- I could have adjusted my stop-loss as the trade moved in my favour.
Disclaimer: This example is for informational and educational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Trading involves significant risk, and past performance does not guarantee future results. Conduct your own research and consult with a financial professional. The information discussed here is personal to the author and may not be suitable for all traders.
