Hi mates and Trading community so here i am sharing mine a very simple and ordinary idea on Nvidia on the basis of price action support and resistance but hope it will work and will respect to the marked levels.
So as we can see that price reaching third time to the marked resistance and getting rejections again from there so i marked up an immediate support (920) if price break this and close below we can see price can touch marked target zone below which is also a support zone based target and if price will break resistance and succeed to close above we can see marked potential upside target in coming sessions target taken from the length of consolidation channel.
My view for coming trade execution is not clear so far that is the reason not tagging this publication in long or short category so after any breakout i will update my trade idea accordingly.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
So as we can see that price reaching third time to the marked resistance and getting rejections again from there so i marked up an immediate support (920) if price break this and close below we can see price can touch marked target zone below which is also a support zone based target and if price will break resistance and succeed to close above we can see marked potential upside target in coming sessions target taken from the length of consolidation channel.
My view for coming trade execution is not clear so far that is the reason not tagging this publication in long or short category so after any breakout i will update my trade idea accordingly.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Comment:
Reached to mentioned support of 920 levels as per arrow marked in published chart, Now waiting for a break maybe we can see a bounce from there and after resistance break too
Comment:
So far price is moving according to the anticipation which marked by arrowrs in published chart still support and resistance not break but gives a good move from 920 marked support levels and now 947. This is how we can understand the support and resistance roles in financial market now from here waiting for resistance break will update idea accordingly mates.
Comment:
Hello mate sharing an update so as you can see i update above a support bounce view in above update and today price break resistance by a huge gap up so some how price it realize that the view of arrow marked was appropiate and it helped to those who are having a long view already for it, One important thing i want to share that that is marked resistance will act as a strong support in coming session mates
Comment:
Trailing Stop loss update- Hello mates after resistance break price reached 1126 today and very strongly moving towards marked target so now i am taking 50% gains from overall trade position and for rest position i will trail stop loss on cost price for my longs in Nvidia which is currently running in nice gains and i hope that we can see marked target very soon
