NVIDIA $NVDA | NVIDIA WEDGE BREAKOUT SOON - Sep. 20th, 2024

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NVIDIA NVDA | NVIDIA BREAKOUT SOON - Sep. 20th, 2024

BUY/LONG ZONE (GREEN): $118.25 - $130.00
DO NOT TRADE/DNT ZONE (WHITE): $114.75 - $118.25
SELL/SHORT ZONE (RED): $103.75 - $114.75 (can be extended to $92.00)

Weekly: Bullish
Daily: Bullish
4H: Bullish

NVDA looks choppy and very ranging, but is consolidating towards a zone that has been tested roughly seven times. Bulls should be looking for price to pinch and breakout above $118.25 towards the $130.00 price area, or bears can look for price to pinch and breakdown below the $114.75 level towards the $103.75 area. Bears can also look for price to drop to the $92.00 area that had started the previous bull rally. Despite my three main timeframes indicating a bullish trend, I would be happy with a fast move in either direction.

This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!

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تم فتح الصفقة

Price currently up 4% today.

1H:

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تم فتح الصفقة

Price has continued in after hours trading, just barely wicking into a new high.

1H:

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تم فتح الصفقة

NVDA is continuing strong, peaking at another 3% gain on the day, currently floating around +2.38%

1H:

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تم فتح الصفقة

NVDA reaches as high as $127.66 today before pulling back.

Price has peaked over +8% gains from the start of the rally marked by the breakout.

1H:

١ أكتوبر ٢٠٢٤

ملاحظة

Could the wedge be wider than previously expected?

The blue lines are the original wedge lines, and the purple are potential new wedge lines if the wedge range is widened.

We are currently seeing a pullback to zone 114.75 - 118.25. Bulls should seek a support level here and bounce back up, bears should look for momentum to breakdown the 114.75 level towards the 103.75.

The 4H also shows strong bearish momentum and breakdown of structure.

Daily:

٣ أكتوبر ٢٠٢٤

تم فتح الصفقة

NVDA respected support and continued back up, currently just under the 123.00 level.

1h:

٨ أكتوبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

NVDA rallies over 130.00 yesterday and today, reaching the top of my bullish zone.

1H: