The content details two successful day trading setups: an opening range breakdown short on Xerox (XRX) and a double bottom long on Nvidia (NVDA), highlighting the trader's strategy and rationale for each.
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hey guys probable traders here Monday
May 14th did a couple trades in the room
and this was the one that I posted that
I was watching on the open xrx Xerox
this is a one-minute reason I liked it
it was gapping down I looked at the
pre-market action it was pretty steady
this level here 2860 was when I was
watching because I was kind of like the
pre-market low and you can see here it
didn't really do this kind of stuff in
the pre-market it didn't sell off so
liked it going in there was steady and
so I said I would look at it as a short
opening range breakdown at 28 60 this
level here and didn't waste a lot of
time we had like a minute or two and
then it just started to break down so I
took the entry coverage some around just
under 28 it it did this little bear flag
here and then did another pullback and I
think I covered some in the 27 60 20
a.m. range so yeah it was a really nice
opening range breakdown and it had
everything that you know I kind of
looked for it it wasn't it wasn't a huge
gap down it was a decent-sized gap down
and you know had a nice established
level where he could trade against on
the short side so yeah great great setup
great a great opportunity to do a short
trade on xrx the other trade had in the
room was a little later in the morning
let's take a look at it and vidi a
Nvidia came back to my old friend Nvidia
and why I like this trade you can kind
of see here why I picked it up yet after
it popped up and did some stuff broke
through the view app came back down and
tested this pre market low level right there
there
and you can see it respect to that level
bounce back up and then it came back
down again did not go to a new low
didn't made a higher low and that's when
I got interested in it basically I
thought okay this could be you know a
double bottom and this is the level that
I would trade against here so I got in
around 2250 620 I think it was 26 to 50
626 is about where I got in this was
going to be my stop out which was just
around the 256 level and you can kind of
see here it you'd kept looking fairly
promising made a higher low here and
then it this was a level it needed to
punch through this level right here 256
70 roughly and challenged it there
pulled back a little bit didn't make the
new low and then we went on to make some
some higher low higher highs and got
right back almost up to pre market or
the the market day high so yeah this was
a classic double bottom everybody who
knows me wide loves knows I love these
double bottoms and great great
opportunities to trade against these
kinds of levels here gives you a great
risk reward because I you know if I I
was in at 256 26 26 cents roughly was
going to be my downside called a 30
cents and I I knew that if if it could
break out you know I could I was good
for at least 20 you know it was good for
at least a buck anyway and so that's a
good risk were worried ratio for me to
take on a trade like that so anyway good
to see him wandering the room this
morning hope everyone had a good day and
we shall see you in the room tomorrow
Bryan a bear bull traders have a good
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