NVDA may form a bat harmonic within a pennant.

31 Ağu

NVDA is potentially forming a bullish bat variation of the Gartley harmonic, within a pennant on the four-hour chart. As long as the earnings low at point B is maintained, there is potential for a reversal to point C next week, corresponding to the upper trendline from all-time highs.

4 Eyl

İşlem aktif

NVDA lost the earnings low at $115, which was my short entry down to the daily 100 EMA demand at $109. This coincided with the .382 retracement from the all-time high to the August low.

NVDA then traded to the bottom of the pennant this morning and held demand, where I took a long entry at $105.

6 Eyl

İşlem kapandı: hedefe ulaştı

I took profit at $109, which is the .382 retracement mentioned previously, as well as the daily 100 EMA. This will be an important supply to reclaim in order to go higher. I will watch how price reacts to the converging daily 150 SMA and EMA demand, which coincides with the bottom of the pennant, and the daily lower Bollinger Band for a long entry.