Update ! NVDA goes for a larger correction.
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As shown in the chart , NVDA showed a down going impulse character so far which invalidates previous proposed abc correction. This indicates that we will face a larger correction for NVDA.
In best case scenario, end of mentioned impulse which labeled as 12345 is around 540 and an up going counter trend correction may start there which may go to above 600 corresponding to 0.618 Fibo retracement. keep it in mind that it is best case scenario which means worse cases are also possible.
As I always emphasize in my publication we need a bullish sign in every proposed support zone. Please Do not forgot to trade in the direction of the momentum if you decide to go long in proposed support price and stick to your stop loss if you open the position.
There are always alternative scenarios. A wise trader should consider all alternatives.
Wish you all the best my friends.
In best case scenario, end of mentioned impulse which labeled as 12345 is around 540 and an up going counter trend correction may start there which may go to above 600 corresponding to 0.618 Fibo retracement. keep it in mind that it is best case scenario which means worse cases are also possible.
As I always emphasize in my publication we need a bullish sign in every proposed support zone. Please Do not forgot to trade in the direction of the momentum if you decide to go long in proposed support price and stick to your stop loss if you open the position.
There are always alternative scenarios. A wise trader should consider all alternatives.
Wish you all the best my friends.
Nota
Short term descending trend line is now broken. So far stock followed the updated prediction. Good luck.
Nota
Price just hit the target at 0.618 Retracement as predicted.Elliott waves is a powerful tool which enables you to predict and be aware of alternative scenarios.
Good luck everyone.
Nota
NVDA reached to 0.786 Retracement.Nota
NVDA faces problems with 0.782 retracement. Stochastic indicator in daily time frame is in overbought now and making a bearish reversal.Nota
If you trade is well so far and you doubt about resuming bearish trend, my suggestion is to use multi unit trade strategy and exit half of your position. You will not regret if it goes down which is very possible.
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