Hey good job on your accurate TA. Now, what can we expect for NVDA in the coming weeks? Do you see a reversal after it hit the strong support in 220-235 level?
MCFX88
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@wardaK, Sorry for the late reply. Didnt get back to NVDA chart since the target was reached and trade was close. I did do a layout on the bigger picture (SPY, DIA, QQQ, IWM futres) and what I expect. The first one that has confirmed a downtrend is Russell 2000 on daily chart and that indice is usually a leading indicator. If earnings, gdp, consumer confidence numbers for december 2021 are met or exceed expectations (which im expecting); expect another fear rally. Watch the fed this week too.
sirvwap
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Tight stops. Think if NVDA can clear 285 with volume, a move to 300 is fast.
MCFX88
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@gaffsimons, demand zone it reacted to wasnt that strong (256) but the supply zone was very strong (282 legout). stop was tight just in case it didnt played out well. Thank you for your input
wardaK
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I’m not sure about that. I would not short it as I expect a big run to ATH.
MCFX88
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@wardaK, It should come up but overall im bearish . Thank you for your input
tymmothyuss
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Idk…..
MCFX88
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@tymmothyuss, i didnt know either at that time, i just played the odds and since probability was on my side with at least 3:1 Reward/Risk. Thank you for your input
tymmothyuss
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@MCFX88, haha well I took this play and Netflix and made it big so thank you for always posting. Your post gave me a perspective to look bearish and it was right