NVDA: Wave 2 Complete (or Close)
NVDA has developed the most clear wave structure of the stocks and indices I follow, so I'm using NVDA as a standard for the overall market wave structure. Wave 2 is an ABC pattern on the 1HR with A finishing at 108.80 (Aug. 7), Wave B at 98.69 (Aug. 7) and C finishing around 127 (if not finished). I have calculated Wave 3 or 5 (depending on the length of 3) will complete around April 19 low of 75. C wave can extend the length of 161.8% or up to 261.8% of Wave A. If NVDA does go higher than $127, be patient.
PT1 110, PT2 102
PT1 110, PT2 102
Note
UPDATED PT 114
I see NVDA on the verge of beginning Wave 3 down. I see 1 more move down (MINOR wave 4, then a move back up for MINOR wave 5) I expect selling early in the next week (possible gap down) to a MINOR Wave 4 PT of 114, then a punch back up to $125 for MINOR wave 5. I'm expecting a $50-$80 move for Wave 3 to the downside.
Wave 3:
PT 75
Note
I will be moving future posts to my Patreon page patreon.com/FiboTrader1
Best of luck the rest of the week!
We are heading down within the next 3 trading days
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