Chart Pattern Analysis Of NVDA
Updated
https://www.tradingview.com/x/KAr6z8ky/
K1 and K2 are two consolidation candles,
K3 break up and verified the long-term uptrend.
The supply pressure sharply decreased at K3,
It seems that the following candles will keep pricing up to test the upper limit of the uptrend channel.
It is also possible that the following candle fall back to test the lower price of K2,
If that finally happens, it will be a good place to increase long-term positions.
K1 to K3 is a bullish three soldiers advancing pattern,
If K4 price up to test the upper limit of the uptrend channel,
It is also possible that a consolidation will happen there,
it will be another good place to increase long-term positions.
Long-131.88/Stop-127.4/Target-149
K1 and K2 are two consolidation candles,
K3 break up and verified the long-term uptrend.
The supply pressure sharply decreased at K3,
It seems that the following candles will keep pricing up to test the upper limit of the uptrend channel.
It is also possible that the following candle fall back to test the lower price of K2,
If that finally happens, it will be a good place to increase long-term positions.
K1 to K3 is a bullish three soldiers advancing pattern,
If K4 price up to test the upper limit of the uptrend channel,
It is also possible that a consolidation will happen there,
it will be another good place to increase long-term positions.
Long-131.88/Stop-127.4/Target-149
Note
K2 and K3 is a bearish engulfing pattern.
It closed below the short-term uptrend line.
Both the supply and demand pressure sharply increased here.
The short-term bullish momentum had turned to be more neutral.
It seems that the following candles will consolidate here for days.
It is a good place to decrease long potions to avoid such price correction.
If the following candles successfully fall back to test the 0.382-0.5fib area.
It will be a potential good place to buy it there.
If K4 close upon K3 immediately,
It is also a good place to buy back.
But the possibility is relatively low here.
Long-124.8/Stop-120/Target-149
At this chart,
The potential good place to buy is obviously at 0.5fib area.
Note
From K1 to K3, it is a three soldiers stalled pattern,
It seems that the following candles will consolidate here for weeks,
But it must be verified by the following candles.
It is still a long-term bull market here.
The problem for the bull force is lacking enough demands.
If the following candles fall to test the 0.382-0.5Fib area to find enough demands,
The bull market will recover its strength.
The potential valuable area to increase long positions at about 120-112 USD.
And, if K4 close upon K2 immediately,
It is also a good place to buy back.
Note
From K1 to K3,
It is a bearish three soldiers advancing pattern,
The increasing volume and two bear gaps increased the bearish momentum.
K3 close below the neck line of the previous short-term uptrend,
It seems that a “V” type top had established here.
If the following candles couldn’t return back upon the neck line,
The risk will sharply increase.
I will close all my long positions if the following candles successfully verify the newly born bear market.
The potential target of the short-term bear market at about 90USD area.
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