We are now just a point from my long held target of a double top, in what I am counting as an irregular (B) of intermediate degree.
Since price is behaving accordingly, I will not expand on what I have been forecasting for some time except to say that if shorting Nvidia in this area (as with any trade) make sure you are using stops...but best to wait for 5...
Reasons for bullish bias:
- Simple DOW theory(Entry at HL)
- Price is at the support zone
- RSI is synched
- Overall a bullish trend
Here are the recommended trading levels:
Entry Level(CMP): 104.12
Stop Loss Level: 74.33
Take Profit Level 1: 133.91
Take Profit Level 2: Open
NVDA: Our point of interest is 140.76, and breaking this point would confirm a change of character (CHOCH) or a break of the main structure.
But wait before that…
We have three validations, one of which is extremely important and needs to be analyzed.
The first validation is the break of the ascending channel. Whenever a candle completely exits the channel...
After big spring in the structure we just passed and retest the lower line in accumulation structure.
I am very optimistic with how the chart looks!
NVDA
WIN/LOSE 1.5:1
SL BELOW 113$
TARGET upper line structure 140$
NVDL
WIN/LOSE 3:1
SL BELOW 51$
TARGET upper line structure 90-91$
* will update if there is change in sentiment of the structure
* for any...
NASDAQ:QCOM DOWNWARD TREND BREAKOUT TO THE UPSIDE! 20% MOVE INBOUND!
NASDAQ:QCOM IS ON THE UP AND UP!
- Symmetrical Triangle Breakout
- Stochastic Curling Upward
- MACD Crossing Zero Line
- RSI Higher Highs
CATALYST: SEMIS ON THE RUN AGAIN!
Not Financial Advice!
Hey, trading family! Today we’re diving into NVIDIA (NVDA) and its recent price action. Right now, we’re seeing a correction, but all eyes are on whether it can push back up toward that key resistance level of $137.40. Here’s what you need to watch:
Downside risk: If NVDA continues to correct, there’s potential for it to drop below $132. If that happens, we...
NVDA is at a make-or-break point, and it’s time to pay attention! 🔥
Key Resistance:
👉 $137 is the line in the sand! A breakout above $137.49 could send NVDA rocketing higher. 📈
Key Support:
👀 If the rejection happens here, look for price to drop into the $132-$133 zone, where fresh opportunities might open for the bears. 📉
📌 Keep these levels on your radar —...
In trading, understanding the probabilities is crucial. By analyzing historical price movements and applying mathematical principles, I can identify high-probability setups on my charts.
This mechanical strategy allows me to make informed decisions about entering long positions on NVDA.
Why probabilities?
They help me navigate the unpredictable nature of the...
Nvidia ( NASDAQ:NVDA ) can rally another +50%:
Click chart above to see the detailed analysis👆🏻
After creating an expected correction of about -40%, Nvidia is now almost back to new all time highs, showing no signs of weakness despite the recent tech stock correction. If Nvidia creates a new all time high, it is quite likely that it will rally again,...
... for a 2.70 credit.
Comments: 30-day IV remains fairly decent here at 48.9%. Going wider than I usually do from a delta standpoint, with the short option legs camped out at the 16 delta, but with the wings at standard width (1/10th the price of the underlying), knowing that I will probably adjust the setup at some point given its duration (56 DTE).
Earnings...
Nvidia's meteoric rise in recent months is a testament to the burgeoning artificial intelligence (AI) revolution. As tech giants race to integrate AI into their products and services, the demand for Nvidia's high-performance computing chips has skyrocketed. The company's stock has surged by an impressive 25% in the past month alone, and it's on the brink of...
Morning Traders
We are looking at if this market has finished making a wave 4 correction or are we in for a treat with either a small correction down before we punch up to the 137-138 target we have in our wave counting and projections.
The question is always be aware of the worst case scenario here and the best case scenario, take caution
Happy Trading
MB Trader
