Watch This Before Nvidia Reports Earnings...

happy Monday what's going on team it's Ricky with techbud Solutions here with a super quick market update so I do have an active short position on Nvidia I just reopened it as it's beginning to retest the old support as you can see here right around 127 acting as a new resistance we'll see if we show progress on the downside and then I can add more to my position I'm up about $99,000 on the day my position is not closed so there's no reason to talk about what I'm up if I haven't locked it in yet just yet that being said it's been showing signs of lower highs and lower lows since the market peaked at highs of 13126 I want to remind you this week Nvidia the biggest thing that's going to be happening this week is NVIDIA is going to be reporting earnings you can look up every article you can look up every newsletter everyone is talking about Nvidia Nvidia is reporting earnings this Wednesday after the market closes and yes I will be live streaming it for free on my YouTube channel so if you want to watch it together all I ask you to do is subscribe and make sure you drop a thumbs up with that being said what exactly is going on well again Nvidia is about to report earning so Market is prepping for it does that mean that Nvidia has to sell off does that mean that Nvidia has to go up I'm taking it day by day there's not one position that I'm opening that I intend to hold and carry into in video reporting earnings it's just simply too risky there's no reason for me to do that with that being said can we look at the overall bigger picture of course on the technical side which let me make this very clear technicals mean absolutely Goose EG when it comes down to Nvidia reporting earnings right this could have any form of technical setup but as soon as Nvidia report earnings all that goes out the window fundamentals come into play with that being said Nvidia did come from lows of $90 hit highs of 131 and it's been struggling to surpass and really show progress above 131 it's been a very solid resistance range so we will see with today with tomorrow and all of Wednesday what the market factors in before Nvidia report earnings today it looks a little bit weaker we'll see if tomorrow Tuesday as we get a little bit closer if the market still shows weakness or if we come back to retest previous highs of 131 it would not surprise me if Nvidia comes back to try to retest remember Nvidia is a juggernaut of a company it's super strong super successful and there's super high expectation just like when it comes down to economic reports the market likes to get ahead it's what it likes to do it factors things in advance and this is why sometimes when the actual earning report comes out there isn't that much of an overreaction because things were already factored in in advance right so it's kind of like buy the rumors sell the news type of approach with that being said I wanted to be super clear Nvidia is not cheap right Nvidia looking at previous lows and previous resistance range Nvidia is more on the over botside so on the technical side Nvidia has more downside than upside risk but Nvidia is so bullish like it literally feels like it's Unstoppable with that being said again technicals mean nothing when it comes down to in video reporting earnings this Wednesday so all I'm going to be paying attention to is what levels are we trading at leading up to nvidia's earnings right this is Wednesday after the market closes with that being said if we break below this EMA and break Bel the moving average we have huge gap down potential as long as we continue to hold above I really don't think Nvidia is going to do very much it's probably just going to um you know uh teeter totter around this General range until we either see a break of support or a break of resistance because everything in Nvidia is waiting for is for NVIDIA to report earnings please do not make a mistake and jump into a position that you will later end up regretting don't put yourself in a position in which you cannot tolerate I'm super excited to follow up Wednesday can be a very exciting day especially if you're newer to the market and you're like I've never really watched a company report earnings it's fun especially when you don't have any money you know invested you don't need to have money invested you don't even have to have a trading account to to watch this thing happen the thing that I want to remind you is if you want to pay attention to one of the most valuable companies 3.12 trillion a company that's about to report earnings and the Market's going to react and we will watch it happen live it's a really fun time to come together watch the market react and see what happens from there so as of right now again I'm taking a day byday I see some selling pressure we just hit $10,000 on the day and the more that this thing sells off the more that I could add to my short position so uh I'm going to try to keep it light here my intention is to take profits back at previous lows of 125 I've been really playing it safe and if you tuned on into my live trading session today you know exactly what I'm talking about with my entries and my exits I don't like to sugarcoat it I like to always play it safe especially when trading against Nvidia you know that I love talking about Nvidia being overvalued or overhyped up but with that being said you have to give credit where it's due and Nvidia is an absolute Juggernaut of a company it's extremely bullish and when shorting it you never want to hesitate to take profits because it could quickly change direction so I wish you nothing but the best if you ever have any questions feel free to comment down below and again if you want to tune on in to our live session that's going to be for free um capturing and video reporting earnings subscribe to the channel drop a thumbs up and if you want to tune on into my live trading session right at Market open I trade live every single morning and it's the second link in the description down below if you sign up today you can watch me trade live as soon as tomorrow and yes by getting in right now for lpp 2.0 before lpp 3.0 comes out you will get grandfathered in at the lower price meaning that you will not have to pay twice the price for lpp 3.0 but you have to sign up before September 1st and yes it's a one-time payment lifetime access for for lpp 2.0 as of right now I appreciate your time like always let's make sure that we end the year on a green note take care team