Overview: let's first get back to a note I had on my September 16th update of NVDA:
"One thing that I like to note is that NVDA might not be a golden short opportunity at this point because of the gap of September 1st, it might move a bit slower."
The general idea that I have mentioned in the updates of NVDA since then is that it is approaching the bottom and its going to move slow with lots of shakeouts. In the update of last week, I did a relabeling to my count and proposed an if-else scenario: if NVDA does not hold and breaks the 116 area decisively, it is going to the 80-90 region and provided enough reasoning in that update.
Update: its a bit tricky to count the hourly chart of NVDA at this point. As always, I go with the most probable scenario which wave structures and fib ratios support. I think we are in wave (3) of C of V and NVDA is going to lose the 116 area soon! Note that in this case, we will know if we are right or not very soon and easily: If the 116 area and the hourly channel breaks down, then we are 100% confident in this scenario. Looking into the daily chart, it can be seen that we are in a parallel channel to the major daily channel: the breakdown of the green channel leads to the consolidation of the price in the red channel.
"One thing that I like to note is that NVDA might not be a golden short opportunity at this point because of the gap of September 1st, it might move a bit slower."
The general idea that I have mentioned in the updates of NVDA since then is that it is approaching the bottom and its going to move slow with lots of shakeouts. In the update of last week, I did a relabeling to my count and proposed an if-else scenario: if NVDA does not hold and breaks the 116 area decisively, it is going to the 80-90 region and provided enough reasoning in that update.
Update: its a bit tricky to count the hourly chart of NVDA at this point. As always, I go with the most probable scenario which wave structures and fib ratios support. I think we are in wave (3) of C of V and NVDA is going to lose the 116 area soon! Note that in this case, we will know if we are right or not very soon and easily: If the 116 area and the hourly channel breaks down, then we are 100% confident in this scenario. Looking into the daily chart, it can be seen that we are in a parallel channel to the major daily channel: the breakdown of the green channel leads to the consolidation of the price in the red channel.
Nota
Alternate scenario on NVDA if the 116 area is going to hold:
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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.