Afternoon. Gentlemen and ladies welcome to trace trades today. I'm going to be giving giving you three charts that i think look pretty dang good for money making opportunities to the upside and to the downside whichever way you'd like to play we're going to walk through those and i've got a bonus fourth chart that i'm going to point out today uh that i think you guys are actually gonna be pretty happy with uh for call and put scenarios so we're gonna dig into that not trying to make this very long uh dive into sort of is if this then that scenarios. Uh and send you on your way.

So you can do whatever you'd like to do like you're probably saying. I'm not a firefighter expert. So please take what i say with a grain of salt. But nonetheless here we go the three charts that i'd like to look at today are nvidia neo tesla and as a bonus uh amc because it is actually primed for a breakout and a nice cycle for a bullish run according to how we finished off the day here.

The last friday. So to start off nvidia right uh. There's a couple key levels that i've got marked out right here and sort of the the premise that i i should outline is uh that these are charts that look good for the entirety of the week. And i'm looking for specific requirements to be met in order to play these given charts right uh.

So weekly outlook right you're looking for uh either a channel trading meaning. It continues on with channel trading you're able to take advantage of channel trading or b. Breakouts. All three of these charts are set up specifically for this so.

That you can play it regardless of what happens uh and make some money if you'd like to do so so we're gonna look at all three of these charts uh as such and then you can do whatever you'd like to do uh nvidia right nvidia is primed as we speak right now to break out of a very large scale long time frame falling wedge. If you don't know what a falling wedge is this is a bullish reversal pattern right a falling wedge has a falling level of resistance a falling level of support that forms out a wedge as such and typically bounces back and forth between these levels. Until eventually breaking out that is exactly where nvidia lies right now it has bounced back and forth between these levels back and forth back and forth bing bong bing bong since all the way back to 24 january of 2022 and last friday. Nvidia finally just kind of tickled the pickle of the falling resistance line and you can see that alongside this may i add on the one hour time frame a lot of volume floating end of day.

Another key factor and something i find to be quite. Interesting is if you look at chatter quant. Which essentially measures social sentiment and the activity behind sort of uh. How many people talk about these given.

Tickers nvidia is very high up there on the list alongside tesla. Which we will be talking about later. Today. Overall.

The sentiment does appear to be bullish uh there is a also amount of uh negative sentiment bearish sentiment and we're gonna prepare you for you know either way uh that you'd like to sort of play this i just wanted to bring this chart to your attention you can do whatever you'd like uh for the week right so in the scenario that you do get continuation. This is what i always look for you have to have your own sort of guideline own set of principles that you would follow. But for breakouts. I always like to see a push up followed by a push back down a retracement of sorts to bounce off of any particular level and then come back up for a push uh and i have these levels drawn up right these white lines are the falling wedge.

This green line is sort of what i would consider to be a speed line quote unquote. It's a level in which uh you can expect some resistance and if you break above it you'd likely get a large push up so this would be a play that would be favorable for uh calls you know particularly. This is what i'm watching for myself for a breakout right so i would be looking for on a breakout. A push up beyond this level.

A retest of this level. That's very key here for myself. And then i would be looking for an entry on a retest of that overall falling resistance line. Then acting as a falling support uh in which you could play you know pretty pretty solid upside on that opportunity uh if you'd like to play right out of the gates.

You can just recognize that i like myself to watch for trend. Confirmation and if we get that it does look pretty good. But there is also a scenario in which this could be a juke out right and if it is a juke out if this ends up being the top of uh sort of this bull cycle and nvidia. Ends up retracing back down.

That's okay. This is why i mentioned before uh channel trading and breakouts. See what i just mentioned was breakouts. But this would be an aspect in which you can take advantage of channel trading.

Which is what nvidia would be doing if it rejects off the top of this falling wedge line. See if it does then you'll be targeting over the span of a couple days or however long it would take you'd be targeting the bottom uh of the channel. Which is about 135 or so or a 20 swing to the downside uh in the scenario that you get a rejection candle right you're looking at the hour time frame. The four hour time frame whatever it is uh and it comes back down pretty significantly right let's just say that opening tomorrow at 154 27.

Rejected down it gaps down whatever i'd be looking more so towards the put side of things. Albeit. I usually sit out for the first 15 20 30 minutes of the day. So i can kind of get an idea and a feel for overall trend.

But nonetheless nvidia is looking really nice for a breakout. The volume was there it has officially tapped the top of this overall falling resistance line from the wedge pattern uh. I'd be targeting this green line. If you're looking for touch points.

You can look for uh. Mark. This and come back to the video. 22.

November. December 0. 7. December.

28. December. 4 0. 4.

January. 16. February. Uh.

13. April. You've got 20. April.

And then you've got zero to june. Uh and then if we come up and test. It again obviously that would be uh you know about 174 bucks. Which is a really nice move up here's supply zones.

This is areas in which you can expect some hesitation and the gap fill 176 60 to 180. I think would be uh sort of a target. If you do end up breaking. That green line.

You could expect maybe another extra four dollar push uh to get you up another couple hundred uh or a couple extra bucks. Which would be obviously a nice move if we end up channel trading right target would just be the bottom of this channel. You could maybe swing it for a couple of days. And that's what you'd be looking at neo neo.

Is currently rocking a bull flag scenario. And does look interesting as uh quote unquote sympathy to tesla earnings which are coming out on wednesday. Now if tesla earnings are good i think that every single electric vehicle stock uh will sort of have a sympathy run it's very comparable to sort of the basket meme stocks theory. Where if uh one of the the meme stocks runs the others do alongside of it why is this uh well myself personally.

I think. It's because the algorithms that buy these stocks like to buy them in baskets right. They like to sort of load up and sell and load up and sell all of these stocks at the same time well i think the same thing would happen with these electric vehicle plays and if tesla has got earnings on wednesday neo would be affected by that for this weekly outlook. But what you're looking at right now channel trading or breakout wise uh is this currently has a bold flag here's the flagpole here's the falling resistance line falling support line and it's been bouncing back and forth right.

If you were to draw out this trend what you're going to find is bing bing bing and what you would expect now since it sort of tapped this twice it's double bottom is a retap back up to about 21 and 70 cents. If it's to continue with this channel trading of the overall bull play now most of the time bull flags end up being bullish. If that makes sense uh so you'd expect this to eventually break out doesn't mean it will. But i would be targeting.

This on a more bullish scenario. Rather than a bearish scenario. Right where. You'd be looking to play puts on nvidia.

Or not nvidia neo is if it ends up breaking beneath. This overall channel. At about 19. And 80 cents or so you can draw these up yourself right just look for the the following levels.

Tap tap tap tap tap tap you draw the dots you connect the dots. And you've got yourself. Some resistance lines and support lines to be watching that myself is what i'd be looking for sorry. I'm so sweaty.

My uh. My air conditioner's in my bedroom and i've got to chuck because my cat's been being nuts. But nonetheless uh that's it looks pretty good i'd be favoring more so the channel trading aspect of this unless. Tesla's got really good earnings.

I think this play would take a couple more days to develop. I wouldn't be looking crazy on monday tuesday unless tesla really gets some momentum behind it uh and that brings us to the actual tesla chart itself uh r and r wise risk reward wise. I think the best overall entry for neo uh would be to target that bottom line right an entry on a call. Here is like likely your best scenario you could always play a call hoping for that breakout.

But there's always going to be more risk associated uh for a rejection versus uh respecting. The trend respecting the pattern and looking for that entry on the bottom of that overall uh channel of the the bull flag right uh obviously if it breaks out here you look pretty good if it rejects i just look to wipe your hands clean you made a couple bucks you know tesla earnings on wednesday right uh i think that it could sort of bounce either way this is a pennant formation. But why i like tesla's chart is it's at the top of the penny right so there's two ways that this can sort of go i look for if this then that's if it breaks out from this overall channel. Then i would like to play calls.

Right. And then i'd be looking at sort of this green level momentum 777 dollars 90 cents. You could just say 778 uh would look pretty good typically breakout plays are a little bit more risky than channel trading right. Because you have the opportunity to be juked out faked out whatever it may be right.

And one thing that i've been looking for in particular is overall volume you see if i if you remember correctly. When i showed you nvidia it changes to the hour time frame. The last hour of the day when it started to sort of tap dance with the top of that overall channel. The volume really picked up significantly and this tells you uh that buyers really want to push this for that breakout.

Always look for volume on breakouts. The volume doesn't go up you're more inclined to believe. This is gonna be a fake out breakout. See with tesla you'd expect the same thing change.

It to the hour time frame be watching. If it ends up coming up to this overall falling level of the pennant right watch for volume to start peaking increasing increasing increasing as it breaks out from that overall line. If it doesn't and remember that there's earnings on wednesday. So implied volatility.

Which is essentially the pricing of the contracts is going to be higher uh personally i don't like holding earnings plays overnight. So i would not be looking to play tesla overnight uh tuesday wednesday. Whatever uh. I i would that's just me right.

If you'd like to take the risk the chance you have at it i'm not myself a guy that enjoys uh earnings plays. I don't like the implied volatility. I don't like the chance of getting smoked out on those sort of things i'd be looking for intraday on tesla. But uh if it ends up not breaking out if it rejects what i would be watching for is this pattern to continue to play out right.

It would probably reject off this you'd be targeting the bottom of this overall pennant uh that would be a put opportunity. So if it rejects off the top of this falling resistance line. Then i'd be looking for a put and for a target of the bottom of the pennant as a swing. If you're going to swing.

It intraday. If you don't want to swing right if you're up 10 20. 30. Whatever you can take money and walk away.

You're going to be looking pretty good. The last chart is amc. Now i want to talk about this. Because it did actually have a very micro breakout uh.

One two three four days. Worth of small scale. Bear trend. Right a falling resistance line was actually broken out of coming into the close on friday.

So if you look at the 15 minute chart. Which you're gonna find is volume slowly ramped up which i always look for i find this to be so significant volume ramps up ramps up ramps up and then into the close the highest volume bar on the day was green volume bringing us that overall 1537 level up two percent at the close. Which is phenomenal this does look good and this would incline myself to believe uh that you could see some continuation going into monday. I would be bullish on amc going into monday.

I'd be targeting that 1614 level as momentum followed by 16 1662 and then you're looking pretty good for the overall stock right all these needless to say i think there's a couple key things that you need to know if you want to play these charts. Uh. Number. One have a plan for both entry and exit right number two risk reward make sure that you have a strategy that you're following.

If you not have a strategy. If you don't have a plan uh don't play these. It's okay right i'm just kind of going over charts because i think this is interesting uh. I think they're nice charts and if you're interested in them too well these are the things that i'm personally watching for so.

That's what i've got for the video. Hopefully that was valuable to you i'm going to be watching these three charts throughout the entirety of the week. Because i think they're very close to big moves in either direction. I'm personally favoring the polish side on all four of these charts to be you know matter of fact ish.

But nonetheless you're prepared for any scenario that would come your way so that's what i've got for you guys appreciate you tuning in as always appreciate you much lovely taps and peace.