NVDA | Bullish with Pending Buy after Fib retracement

Jan 30 2023 - UTC+2 20:00

BULLISH INDICATOR (JAN 30)

1. New Bullish HH and HLs has been observed on Daily chart
2. Bullish trend is available in both 1H and 4H level as well.
3. Price action is within the bullish channel
4. Fib on last SH/SL is in the golden zone of 50% - 61.8%. This level also coincides with one of the past 1H level support/resistance zone.
a. This point hints towards a strong entry point.
5. Price level is above 50 MA so pointing towards a buy signal

BEARISH INDICATOR (JAN 30)

1. Price has approached a Daily level resistance and testing will create a pull back
2. No divergence notices on RSI so bearish reversals is not expected.

PREDICTIONS
1. Good bullish trend with good entry setup.
2. After pull back and when the price reached Fib 50% level we have a good entry point

BIAS 1 = LONG - PLAN A (@ Buy Stop)

BIAS 2 = SHORT - PLAN B, (@ wait and see if SL of Plan-A is hit)

TRADE PLAN
———————

PLAN A: Long (@ Buy Stop)

EN1: 197.90 (@ Buy Stop)
SL1: 185.40 - RR: 0.74 - Lt: 8 (Max Loss of $100)
TP1: 206.54

EN1: 198.45 (@ Buy Stop)
SL1: 184.48 - RR: 1.05 - Lt: 8 (Max Loss of $140)
TP1: 211.15

PLAN B: SHORT @ (Waiting for Plan-A to hit SL)

EN: ?? (@ Pending Sell Stop Order)
SL1: ?? - RR: ?? - Lt: ??
TP1: ??

SL2: ?? - RR: ?? - Lt: ??
TP2: ??