17 % short term PROFIT is ahead, Be Prepared in advance!

NVDA trend is clearly up going and currently making its wave 4 of ascending impulse. Up going wave 5 is still ahead. It has probably completed its wave b of 4 after reaction to 0.618 Fibo retracement .One more short leg down to 570 USD ( Wave c of 4 ) is on the way. We have strong support zone at around 570 . In the case of reaction to this zone and starting up going wave from, the target will be at around 670 which makes around 17 % Profit.
Stochastic indicator is making a new bearish reversal and I guess it will be in oversold zone when price hits the support zone (Possible buy zone).
Watch for a triggering signal around 570.

Enjoy your trading !

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Now, we have new bearish reversal after a very short term bullish reversal in stochastic indicator. This usually corresponds to wave B and happens in the midway of the indicator's traveling path down to oversold zone.

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So far everything follows the prediction.Watch 570 USD carefully

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If 570 support can not protect the price next important support will be 551-555

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The price just hit next mentioned support zone, Lets follow the reaction and see if trend is going o reverse here.

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Be aware that the whole drop from 648.57 to 550 may be just one A and the previous abc wave counting for correction of wave 4 may need updates.
If and only if you know Multi Unit Trade strategy and are able to consider alternative scenarios you can go long, otherwise I recommend you to simply skip this trade.
If open stick to your stop loss which is 550.
This is my last update on this idea. if needed I will publish another separate idea for NVDA.
Good luck everyone.

Comment:

Check the Update for NVDA:

www.tradingview.com/...a-larger-correction/