Trade Recap for Thursday 10/26/23

Trade: $NVDA 400p two entries

• Reasoning: Key support breakdown

• Entry on the contract: 2.03 and 2.38

• Exit on the contract: 1st entry: 2.39, 1.98. 2nd entry: 3.00, 3.6, 5.00

• Profit in percent: 1st entry 18%, 2nd entry: 110%

Today, NVDA was on top watch under the KEY 410 support level. NVDA has been holding the 410 support level for the last few months and was setting up for breakdown of this key level today. The first entry was near the open and I quickly sold this position to price action/momentum not meeting the needs for the breakdown. I was able to get a small win with this one with the focus on a re entry later in the day when momentum picked up. When NVDA broke down the 410 level again then premarket low, this was the 2nd entry. I had more conviciton with this on the 2nd attempt because NVDA made a lower high intraday as well as the overall market. Then momentum started to pick up and I had targets of 405, 402 and 400. NVDA ended up hitting every single one of these targets.