NVDA - A 90% Short fall to the centerline ($100-$104) or lowerDouble top, failed breakout of the high—call it what you will.
Fact is, NVIDIA has taken a brutal hit and is now trading back inside the fork.
Hagopian—what on earth is a HAGOPIAN?
According to the Fork Framework rulebook, if the market fails to reach its next target (the next line, such as the centerline, lower median line parallel, etc.), it reverses and moves further back than where it started.
This is (not so exactly) what happened in December. Instead of reaching the centerline, the market turned, shot beyond the upper median line parallel (U-MLH), and was supposed to break above the November 21st high. It missed that target as well. And this, my friends, is....?
...again, a HAGOPIAN!
Now, it’s heading south again. But this time, we have an over 90% probability of reaching the centerline. Why? Because when the market breaks above the U-MLH and then falls back into the fork, it’s a very bearish signal.
Of course, nothing works 100%. The market could turn around today and push past the high. But statistically, we’re aiming for the centerline—and there’s an over 90% chance we’ll hit it.
When will it happen?
Sorry, my crystal ball is broken.
All I do is follow the Fork/Median Line rulebook and rely on my experience.
As for me, I’m opening a short position in NVIDIA today and may add to it on the way down to the centerline. And I play this game with Options, so no hard price level stop for me.
