Brief thing here...but taking a NVDA price point and dividing it by the DXY to achieve a lower graph. Then taking two lows and a pinnacle high to form a parallel channel with a 50% marker.
Can see how there is little usefulness in the below chart...yet the top one is quite interesting. The circles are places of interest and some levels were gapped up without retracing and whatnot.
But what does it mean..who knows, but compare your analysis to these levels and see what may be hiding in plain sight that you could miss.
PS....here is the top to recent bottom Fib Retrace on the same points from the below graph superimposed on the NVDA chart....interesting no?
The daily chart has some interesting levels that the parallels share...so if its a little top heavy, a drop can be on any of these lower levels.
Here is the Fib Retrace but with those same circles to see correlation with parallel:
closer view of just NVDA with all goodies attached...
Can see how there is little usefulness in the below chart...yet the top one is quite interesting. The circles are places of interest and some levels were gapped up without retracing and whatnot.
But what does it mean..who knows, but compare your analysis to these levels and see what may be hiding in plain sight that you could miss.
PS....here is the top to recent bottom Fib Retrace on the same points from the below graph superimposed on the NVDA chart....interesting no?
The daily chart has some interesting levels that the parallels share...so if its a little top heavy, a drop can be on any of these lower levels.
Here is the Fib Retrace but with those same circles to see correlation with parallel:
closer view of just NVDA with all goodies attached...
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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.