NVidia closely resembles the Bitcoin chart! The manufacturer closely supplies digital infrastructure companies (crypto miners), many of whom are currently contending with low digital asset prices, regulatory clampdowns, and expensive hardware prices. Consolidations are imminent. And the secondary market for GPUs will likely slam retail prices and orders with the manufacturer. I already have the intel on the manu side ;)
So, ideal place to short was $254.71, which will have stops placed just above it. The BO level is $219.72 for a momentum short. Targets are marked according for profit taking. All this market need is a catalyst and we're off! If we trade above invalidation level I will update.
So, ideal place to short was $254.71, which will have stops placed just above it. The BO level is $219.72 for a momentum short. Targets are marked according for profit taking. All this market need is a catalyst and we're off! If we trade above invalidation level I will update.
Trade active
Note
Ok. We are at the first support line. Let's see if this breaks down, which may bring us to the BO level and a break of the second support line. RSI has a bearish divergence ;)Note
Attention! We are at the BO level.Note
Candle close below BO level will validate our plan :)Note
We're trading back in the bullish channel. Its kissed the pivot, let's see if we breakdown again (fingers crossed).Note
We are back at the resistance level and, by the looks of it, are re-entering the bull channel. Time is running out for the bulls, but just in case we have our stop-loss pending just above the recent swing.Trade closed: stop reached
Note
Forgot to keep this up to date!Almost at MIN TP
Trade closed: target reached
MIN TP HIT!Note
almost at MID TP!Trade closed: target reached
Hit MID TP!!!!!!!Note
Next wave of selling coming up?Note
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Watch-out for a reversalNote
Trade closed: target reached
On the daily we now have a bit of a bottom forming...Overall this was a veryyy good trade ;)
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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.