NVIDIA
Long

NVDA downtrending to complete elliot

283
Entry: 153
Target: 250
Invalidation: 128 ( I will not be putting invalidation level on my trade, since it's a strong company we should see a gain in price in a long term)

Pattern: 1-5 Elliot wave and full ABC correction, now we are wating for market to complete Elliot wave downwards and complete wxy combination. We should break the head and shoulders pattern, break in the right shoulder and retrace upwards to it and go back down to our demand zone where is our entry point.

Aroon: Shows gain in bearish momentum
Macd: Shows gain in bearish momentum
Fib zone: We are waiting for price to retrace to 61.8% fib zone (Reversal zone) and retrace to 50% fib zone (Target zone)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.