NVDA, To face a strong resistance.We set our stop loss carefully
NVDA is facing a strong resistance again. Is it able to defeat another resistance? Watch carefully.
Strong resistance shown on the chart formed by 1.618 projection of wave (1) and 2.618 extension of wave (2) which is unusual one.
Chart also shows best case scenario. There is another possibility that we have an extended wave 5 which is low probable. I discussed these two alternative scenarios in another publication. Link is provided for who are interested to check it out.
Indicators are also in overbought zone for a long time which means holding or new buying is too risky now.
My recommendation is to adjust you stop loss carefully and choose it based on facts not hopes.
Upcoming correction brings us another golden opportunity to go long. So we keep NVDA in our watch list for sure.
Good luck my friend.
Strong resistance shown on the chart formed by 1.618 projection of wave (1) and 2.618 extension of wave (2) which is unusual one.
Chart also shows best case scenario. There is another possibility that we have an extended wave 5 which is low probable. I discussed these two alternative scenarios in another publication. Link is provided for who are interested to check it out.
Indicators are also in overbought zone for a long time which means holding or new buying is too risky now.
My recommendation is to adjust you stop loss carefully and choose it based on facts not hopes.
Upcoming correction brings us another golden opportunity to go long. So we keep NVDA in our watch list for sure.
Good luck my friend.
Comment:
788 can be an objective stop loss.
Comment:
We are prepared in advance to go long for NVDA. Lets see how internal structure of correction shows itself. Then we can estimate possible buy zone !
Comment:
we had set our stop loss to objectively proposed 788.03. Right?
