PRO_Indicators
Short

NVDA / D1 : Time to exit and retrace back to major supports.

NASDAQ:NVDA   NVIDIA CORP
Strong reversal pattern here to retrace current bull wave back to subwave 4 support in two corrective waves.
The ending diagonal is very accurate and the overshoot is now being reversed. We've seen Sinewave plotting a bull break signal but the prices never managed to break up the target line and that was the limit not to cross. This false breakout is very likely to be wrong footed within the next few days. Standard targets are overlapping the subwave 3 then reaching subwave 4 support to call again, eventually...
Regarding the entry signal.. Momentum didn't give a signal but Sinewave confirmed the end of the cycle and in this case we can confirm the top using candles. We can clearly see a beautiful island reversal here... So obviously the stop on this scenario is place slightly above the current top and offers a very confortable 1:5 ratio. This is counter trendy and should of course not be considered to try with leveraged positions...

Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
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