NVDA Chips are Up - Exit

Daily 3/30/22 10:10am ET

Daily 3/30/22 16:10am ET

Around 10:10am ET this morning, on the Daily chart at the top, I saw a "Doji Gap Down" candlestick pattern on very high Stochastics, followed by continued selling. That's a very Bearish signal. That's all I needed to get out of the trade and see what happens next.

As you can see on the bottom Daily chart above, we never recovered, and closed even further down. Now we have an Evening Star candlestick pattern on high, but dropping, Stochastics. Also bearish.

However, we haven't seen the confirmation of a close below the 8ema. So, it wouldn't be crazy if we bounced back up from here. If we do, I may go long again, but for now I'm happy with my decision. I believe I made the best decision this morning.

Bottom line:

NVDA Apr 290/295 Call Spread

Entry: 1.71

Exit: 1.55

Loss: 1.55 - 1.71 = -.16 * 100 shares/contract = -$16.00 per option.