Here is an easy ta for NVDA long:
Guys, watch this example of pennant pattern. Dont kill me if I see it wrong (I always confound the flag pattern with pennant pattern) but typical markers for this chart pattern exist:
1. Converging trendlines: Compared to flag pattern you can see here converging trendlines,
2.Beore there was sharp price movement, followed by sideways price movement,
3. Bollinger Bands are close to each other, so the contiunation of trend should be followed by sharp price movement again.
Indicators:
Our lovely RSI and MACD indicators confirm this trend, there is no divergence:
Crossver around 40 RSI and MACD trending up to 1-2.
Set a stop buy 1-2 % above trendline and stop loss to next support.
Good luck for your trading and for your feedback I am gratful.
Guys, watch this example of pennant pattern. Dont kill me if I see it wrong (I always confound the flag pattern with pennant pattern) but typical markers for this chart pattern exist:
1. Converging trendlines: Compared to flag pattern you can see here converging trendlines,
2.Beore there was sharp price movement, followed by sideways price movement,
3. Bollinger Bands are close to each other, so the contiunation of trend should be followed by sharp price movement again.
Indicators:
Our lovely RSI and MACD indicators confirm this trend, there is no divergence:
Crossver around 40 RSI and MACD trending up to 1-2.
Set a stop buy 1-2 % above trendline and stop loss to next support.
Good luck for your trading and for your feedback I am gratful.
Comment:
Bounce off from trendline, fall back to 50sma support.