NVDA is reaching to strong resistance zone at 655-687.

NVDA is attacking a strong resistance zone. Is it able to defeat the resistances? Watch the reaction to 655-687 carefully.

This zone is formed by cluster of typical Fibonacci levels of different wave cycles which suggest that it is powerful.

Stochastic indicator is in overbought zone in daily time frame while its very close to overbought in weekly. What does it mean? is it important thing to consider? absolutely yes. It means possible high at mentioned zone may remain the last high for several weeks.

My recommendation is to use Multi Unit Trade Strategy. I will publish an idea about the importance of this strategy soon.

Good luck my friends.

تعليق:

I want to emphasize that we do not go short without a bearish signal at proposed resistance zones.

تعليق:

Please Keep it in mind that we need a bearish signal at proposed resistance zone to go short.

تعليق:

Stochastic indicator in Monthly, Weekly and daily time frames is in overbought zone and it made bearish reversal in H1 while price is in resistance zone. Adjust your stop loss carefully.

تعليق:

NVDA is doing great continuously making higher highs and higher lows in H1 time frame. Next resistance is 717-723.
You can set your stop loss to 678.18.

Good luck

تعليق:

Last low in H1 time frame is 678.18 and last low on daily time frame is 618.4. Think about your stop loss carefully.

تعليق:

Now we have a new low and new high in daily time frame. You can move your stop loss higher.

تعليق:

You can move your stop loss to 703.38. Good luck.

تعليق:

Move confidently your stop loss to 755.78