Chart Pattern Analysis Of NVDA

https://www.tradingview.com/x/oY8hVQR1/

From K1 to K3,
It is a strong bearish three soldiers advancing pattern.
It is likely that K4 will keep falling to test the uptrend line or 0.382fib area.
90USD will be a value area to establish long-term positions.
I will try to buy it there.

Note

After a strong bearish engulfing pattern K1 and K2,
K3 keep falling under high supply pressure,
And the bear gap also verified that the downtrend keep expanding.
A nearest strong support at about 0.382-0.5fib area.
It will be valuable area to establish long-term positions there.

But before that,
A rebound may follow K3 to test the resistance of the bear gap.
If I had bought it earlier,
I will try to get out of the market at K3 or K4.

On the other hand,
If K4 close upon the bear gap,
The following candle may test the upper limit of the downtrend channel.

Note

K3 break down the long-term uptrend line with a bear gap and verified that the downtrend keeps expanding.
The supply pressure is still at high level.
A sharp price correction is on the way.
If the following candles couldn’t return back upon K2,
The bear market may keep falling.

Note

K3 failed to close upon the middle line of the downtrend channel,
It is likely that the following candles will consolidate here for days.
The supply pressure is too high.
It verified the downtrend momentum.

Short-106.25/Stop-109.25/Target-90

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