Nvdia has a new Aggressor.The boxes you are observing are the Larger scale supply and demand zones. These areas map out the current large liquidity. This includes the newest Player (collective players). This new player has been aggressively on the 17th and 18th.
Why does identifying a new aggressor matter?
New aggressors shape the way we view previous areas of supply and demand. Some look at the price getting to their target, without giving any thought to HOW it gets there.
In this instance:
Previous supply and demand have been established (we do not know how big they are or who is stronger). Some clues we do have is how it approaches these areas, and new aggressors can give us the clues we need... Will it bounce off demand? or fulfill it and continue lower?
New aggressors can put more pressure on these Demand or supply zones simply because they are becoming more aggressive closer to these areas.
Prediction
Scenario 1
Rolling over, and touching the 106 demand zone. Get's bought up, and new aggressors presents themself (bringing more demand). Price Target = 123.
If there is continued demand through this area, a case can be made for a 138 target before a correction/ reversal.
Scenario 2
New demand chews up this new aggressor. We should then have a bullish run to 131. 131 would present itself as a great short-term options (short).
Scenario 3
Rolling over with NEW (short) aggressors. This will put tons of pressure on the 106 players, and hopefully the 96's hang on (not charted).
Please feel free to share you input, thank you for taking the time.
Happy Trading!