Chart Pattern Analysis Of NVDA

8月28日

https://www.tradingview.com/x/XKpd9vzn/

From K1 to K3,
The supply pressure keeps increasing.
Smart money got out of the market at K3.
And bad news released after the market.
The short-term consolidation ended by the news.

So, it is likely that a large scale consolidation or another bear run had started from K1.
A nearest support at about 0.5-0.618fib area.
I will try to buy it there.
I am still optimistic about the long-term bull market of NVDA.
But it is not safe to invest too much money on it now.

On the other hand,
After the sharp price shocking,
The market will choose a real orientation.
If the following candles close upon the downtrend channel,
It is still valuable to buy back.

8月31日

注释

K3 failed to close below the uptrend line under increasing volume,
It seems that the uptrend line is still effective.
Besides, K3 close upon the bull gap of K1.
It seems that the bull gap is also effective.
So, another motive wave is possibly on the way.
If K3 break up K3 or K1,
It is still valuable to buy in.

On the other hand,
If K4 close below K3 immediately,
The risk will sharply increase.

Long-110/Stop-106/Target-143

8月31日

注释

K2 and K3 is a bearish engulfing pattern.
It verified the effectiveness of the resistance.
And K2 is a fake up candle.
So, it is very likely that K4 will keep falling to test the lower price area of K1 or even close below it.
If K4 close below K1,
The potential double top will be established.
And the bear market will lasts for months.

But I don’t think the bear force will finally make it.
If the demands keep increasing and K4 stand upon 0.5fib area.
Another bull run will start there.
I will try to buy it at 0.382-0.5fib area if I find good signals.

On the other hand,
If K4 close upon K3 immediately,
It is also valuable to buy it.

Long-110/Stop-106/Target-143
Long-132/Stop-127/Target-143

8月31日

注释

K2 started with a bear gap and close below the ice line,
It terminate the short-term consolidation.
It seems that another bear run will start from here.
But the supply pressure sharply decreased at K3,
And K3 failed to create a lower low to verify the bullish momentum.
So, it needs more signals to verify the newly born downtrend.

If K4 close below the ice line or K2,
The short-term downtrend will likely expand.
If K4 close upon K2,
The newly born downtrend will be terminate and It will be valuable to buy back.