Chart Pattern Analysis Of NVDA
Updated
https://www.tradingview.com/x/fJUyt8ST/
From K1 to K3,
It is a bullish three soldiers advancing pattern.
Two candles close upon the neck line.
It is most likely a valid break up.
And market will accelerate.
If I hadn’t bought it earlier.
I will buy it here.
A nearest price target is about 200USD.
On the other hand,
If K4 close below the neck line,
The risk will sharply increase.
I think the possibility is relatively low here.
From K1 to K3,
It is a bullish three soldiers advancing pattern.
Two candles close upon the neck line.
It is most likely a valid break up.
And market will accelerate.
If I hadn’t bought it earlier.
I will buy it here.
A nearest price target is about 200USD.
On the other hand,
If K4 close below the neck line,
The risk will sharply increase.
I think the possibility is relatively low here.
Trade active
From K1 to K3,
It is a strong bearish evening star pattern.
K3 close below the bull gap of K1.
A short-term bear run or a larger scale consolidation is possibly on the way.
But, the strong bearish momentum must be verified by the following candles.
Days ago,
I am expecting a bull trend following K1,
But unfortunately, I was wrong.
If K4 or the following candles successfully rest the resistance or even close below the support.
I will decrease my long-term positions.
If the following candles close upon K3,
The bad signals will be terminated,
It is still valuable to buy in.
Note
K5 verified a fact that K4 is possibly a fake up candle,
But unfortunately, K5 failed to close bellow K4 or the support-1,
The market needs more signals to verified the bearish momentum.
Considered K5 still stand upon the support under increased demands,
If I sold it earlier,
I will try to buy back here.
On the other hand,
If the following candles successfully fall back to test the support-2,
It will be another good place to buy then.
Note
K4 starts with a bear gap and close below the uptrend lines under increased supply pressure,
It is a strong bearish signal.
If the following candles verified the bearish momentum,
I will try to decrease my long-term positions.
On the other hand,
K4 still stand upon the support-1 line or the previous bull gap.
It is possible that the following candles rebound to test the uptrend lines,
Or, even close upon it.
If the following candles close upon K3,
It is still valuable to buy it then.
Trade closed manually
K3 is one part of a bullish morning star pattern,
But unfortunately, a strong bearish hang-man candle of K3 interrupted the bull momentum.
It verified a fact that the bull force couldn’t fully control the market for now.
The resistance is still solid and effective.
Perhaps the consolidation will expand down to test the support.
On the other hand,
If the following candles or the week candle close upon the resistance,
It is still possible that another bull run will start here.
In the long-term, it is still a bull market of NVDA.
But I will not wast time here.
I cut off all my long-positions at K3 and mainly focus on Bitcoin.
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