NIVIDIA - Long Trade Setup - Near Key Support, Watch For Bounce

Hello Traders, here is a long trade idea for NIVIDIA.

The market is oversold and overdue for a bounce. Yes, there is the potential that price heads lower but with the DXY approaching resistance there is a strong probability that we will see a bounce in the market this week.

NIVIDIA is approaching a key support level at $119, this is an excellent entry for a long trade.

Take profit #1 is at $130
TP #2: $143

For a stop loss: Personally I typically average down in trades like this so please use whatever risk management strategies that you typically use that suits you.
After we bounce there will likely be a rather large sell off so make sure that you don't get trapped in the trade.

Thanks everyone and best of luck trading!