Will $NVDA head South?[ Short-term Analysis]
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Okay, let's analyze this quickly.
Because the current Bull Momentum of NVIDIA is in harmony, we need to wait for the price to react (badly) to the green line on the chart before considering a SELL.
On the flip side, since the price is currently respecting the resistance line of the previous horizontal channel, we will have to wait before considering a BUY. (Actually, if you're holding a BUY order from before and set a stop loss accurately - a stop loss level below the green line, you still have a decent profit.)
WHAT A WISE TRADER DOES?
Kinda boring to remind you of this for the third time in the day, but … stay put may be the best decision.
Because the current Bull Momentum of NVIDIA is in harmony, we need to wait for the price to react (badly) to the green line on the chart before considering a SELL.
On the flip side, since the price is currently respecting the resistance line of the previous horizontal channel, we will have to wait before considering a BUY. (Actually, if you're holding a BUY order from before and set a stop loss accurately - a stop loss level below the green line, you still have a decent profit.)
WHAT A WISE TRADER DOES?
Kinda boring to remind you of this for the third time in the day, but … stay put may be the best decision.
- If you're holding a Buy position: Move the stop loss to a safe point to preserve profits.
- If you're holding a Sell position: Uhm... set the stop loss carefully.
- If you haven't done anything yet? Well, just continue not doing anything!
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