Overview: let's review the previous update:
Update: NVDA followed the proposed channel perfectly. Now, I see that we are near the completion of wave a consisted of 5 waves. The pullback that follows (wave b), is going to test the green descending channel. Note that I have not yet provided the future labels on the daily chart. This abc structure that is going to test the descending channel on the daily chart is either an x wave (bottom is not in) or wave 1 (bottom is in). The pullback that follows will determine that.
- I believe NVDA has bottomed based on the structure.
- If we breakout through the green descending channel, it is a decent confirmation for this idea.
Update: NVDA followed the proposed channel perfectly. Now, I see that we are near the completion of wave a consisted of 5 waves. The pullback that follows (wave b), is going to test the green descending channel. Note that I have not yet provided the future labels on the daily chart. This abc structure that is going to test the descending channel on the daily chart is either an x wave (bottom is not in) or wave 1 (bottom is in). The pullback that follows will determine that.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.