Nvdia
At the moment it's look like we are still in correction. The corrective wave we are in now, is the from wave 3 to 4.
if we look at our corrective wave, we have now printed 6 (see purple lines), and I suspect that we are now going to print the seventh wave; In addition, on lower timeframe 1 - 4 hour chart, a slight emerging divergence can also be spotted, which is something you should always pay attention to. I expect to see the correction ending in the green box. I'm not sure yet that he will hit the TRVP from an ABCD, but I will sign him up anyway because we got even more fibbonaci clusters hitting that zone: extensions and projections
What is also possible is that there is no double correction and where I have labeled my (W) there will be a (C) so there will be a single correction. However, we should then see a much higher volume in the coming days and with a lot of volume we will break through the 130 dollar mark and actually preferably through the 140 dollar mark. For the time being, the volume continues to decrease and our divergence on a lower time frame does not support that idea.
Honestly, in an ideal world we would like to see WXY printed. In that case we woud printed 7 waves down, and as we know even correction is a 3 +4 + +4 wave construction. A bullish divergence arising on a daily timeframe (daily chart), would support the end of the correction then we have a good swing. I am talking about long-term targets.
feel free to comment
if we look at our corrective wave, we have now printed 6 (see purple lines), and I suspect that we are now going to print the seventh wave; In addition, on lower timeframe 1 - 4 hour chart, a slight emerging divergence can also be spotted, which is something you should always pay attention to. I expect to see the correction ending in the green box. I'm not sure yet that he will hit the TRVP from an ABCD, but I will sign him up anyway because we got even more fibbonaci clusters hitting that zone: extensions and projections
What is also possible is that there is no double correction and where I have labeled my (W) there will be a (C) so there will be a single correction. However, we should then see a much higher volume in the coming days and with a lot of volume we will break through the 130 dollar mark and actually preferably through the 140 dollar mark. For the time being, the volume continues to decrease and our divergence on a lower time frame does not support that idea.
Honestly, in an ideal world we would like to see WXY printed. In that case we woud printed 7 waves down, and as we know even correction is a 3 +4 + +4 wave construction. A bullish divergence arising on a daily timeframe (daily chart), would support the end of the correction then we have a good swing. I am talking about long-term targets.
feel free to comment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.