Nvidia has been in a strict downtrend for the last few months, forming a constricting price action in the form of a falling wedge.
Generally, this can be seen as a bullish reversal pattern as "pressure" builds within the wedge before ultimately an explosive move.
I will look to take long trades here with a stop below the previous low with a 1H candle close as an invalidation.
Any potential good news can be a massive catalyst for the market, majorly Nvidia who has been a large target of trumps tariffs in relation to china.
Generally, this can be seen as a bullish reversal pattern as "pressure" builds within the wedge before ultimately an explosive move.
I will look to take long trades here with a stop below the previous low with a 1H candle close as an invalidation.
Any potential good news can be a massive catalyst for the market, majorly Nvidia who has been a large target of trumps tariffs in relation to china.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.