Overview: let's review the expectations of the previous update:
Update: NVDA followed the proposed structure of the flat, but fell short of the potential target and wave B peaked at 147.16. Looking at the hourly chart, I think we have completed wave (1) of C of III of (c) of y and we are in wave (2), which is developing as a flat and I believe should complete by Wednesday September 21st (FOMC). Right now, we are in wave iii of C of (2).
Potential targets for wave (2) peak? (135-140)
1) Retracement of wave (1): 135.14, 136.02, 136.6, 138.15, 139.7, 140.27, and 141.16
2) Volume profile of wave (1): 134.76, 137.42, and 139.25
3) Support/resistance levels: 134.52, 136.44, 138.36, and 140.17
4) A channel which is not confirmed yet, but can act as a potential point for wave (2) peak:
One thing that I like to note is that NVDA might not be the a golden short opportunity at this point because of the gap of September 1st, it might move a bit slower.
- With the price action of this week, now we have an idea of the structure of wave B, which is developing as a flat.
- We have completed waves (A) and (B) of flat and wave 3 of (C) of B is currently in development.
- I have the same range of 149.59-155 as the potential peak.
Update: NVDA followed the proposed structure of the flat, but fell short of the potential target and wave B peaked at 147.16. Looking at the hourly chart, I think we have completed wave (1) of C of III of (c) of y and we are in wave (2), which is developing as a flat and I believe should complete by Wednesday September 21st (FOMC). Right now, we are in wave iii of C of (2).
Potential targets for wave (2) peak? (135-140)
1) Retracement of wave (1): 135.14, 136.02, 136.6, 138.15, 139.7, 140.27, and 141.16
2) Volume profile of wave (1): 134.76, 137.42, and 139.25
3) Support/resistance levels: 134.52, 136.44, 138.36, and 140.17
4) A channel which is not confirmed yet, but can act as a potential point for wave (2) peak:
One thing that I like to note is that NVDA might not be the a golden short opportunity at this point because of the gap of September 1st, it might move a bit slower.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.