7 Dimension Comprehensive Analysis FOR NVDA
This analysis focuses on a potential trade setup using the 7-Dimension Analysis approach on the Daily (D1) timeframe, with an additional H1 timeframe consideration for a counter-trade. Below is the detailed breakdown:
😇 7 Dimension Analysis
Time Frame: Daily (D1)
Swing Structure:
The overall structure is bullish, with the market having taken inducement and currently moving toward completing its corrective swing move. The corrective move is nearing its extreme levels, with one pullback already completed and a proper bearish internal structure observed.
An Extreme Order Block (OB) is marked as the Point of Interest (POI) right at the discounted zone of the swing, around the 80% Fibonacci level. This area also aligns with a prior demand zone where the last impulsive move started, making it a strong area of interest for a potential buy entry.
Pattern:
🟢 Chart Patterns:
A reversal pattern in the form of a Rounding Pattern is forming, with a higher low (HL) internal leg that could lead this swing further down before it potentially reverses.
🟢 Candle Patterns:
After a Tower Top, the candlesticks have broken out to the downside in a narrow range, accompanied by gaps and momentum. The breakout was followed up by an engulfing candle, with a Dark Cloud Cover pattern in play, signaling strong bearish control in the market at this point.
Volume:
🟢 Despite the corrective move, there hasn't been a drastic decrease in volume, suggesting that this move is still part of a corrective phase. This implies that a significant buying opportunity may present itself at the POI.
Momentum RSI:
🟢 The momentum has shifted into a sideways zone after a long rally, with a range shift having occurred. However, according to Andrew Cardwell’s RSI analysis (Grandfather-Father-Son module), the overall market sentiment remains extremely bullish, indicating that this down move could just be a correction, and buying at the POI would be advisable.
Volatility Bollinger Bands:
🟢 After an expansion phase, the market may take some time to cool down, so it's not surprising if the price enters a sideways or corrective range for some time at these levels.
Strength ADX:
The ADX also suggests that this is merely a corrective move, with a strong potential for continuation of the previous bullish trend after the correction.
Rating: ⭐⭐⭐⭐ (4 Stars)
Probability: 80%
This setup has a high probability, with strong indications that the corrective move will provide a buying opportunity at the identified POI.
Planned Entries:
Counter Trade Entry (Sell):
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ POI: Counter Trade Gap Down
💡 Decision: Sell Limit
🚀 Entry: 114.41
✋ Stop Loss: 120.1
🎯 Take Profit: 86.5
😊 Risk to Reward Ratio: 5RR
🕛 Expected Duration: 20 days
Main Trade Entry (Buy):
✔️ Entry Time Frame: Daily (D1)
✅ Entry TF Structure: Bullish
☑️ POI: Extreme POI
💡 Decision: Buy Limit
🚀 Entry: 87
✋ Stop Loss: 74
🎯 Take Profit: 180
😊 Risk to Reward Ratio: 7RR
🕛 Expected Duration: 60 to 180 Days
SUMMARY:
The analysis suggests a dual approach—first, a short-term counter-trade sell position based on the H1 structure with a favorable risk-to-reward ratio, followed by a long-term buy position in line with the bullish daily structure. The corrective phase in the daily timeframe is expected to present a strong buying opportunity at the identified POI, with a highly probable chance of significant upside thereafter. The two trade setups provide different time horizons and risk profiles, catering to both short-term traders and longer-term investors.
😇 7 Dimension Analysis
Time Frame: Daily (D1)
Swing Structure:
The overall structure is bullish, with the market having taken inducement and currently moving toward completing its corrective swing move. The corrective move is nearing its extreme levels, with one pullback already completed and a proper bearish internal structure observed.
An Extreme Order Block (OB) is marked as the Point of Interest (POI) right at the discounted zone of the swing, around the 80% Fibonacci level. This area also aligns with a prior demand zone where the last impulsive move started, making it a strong area of interest for a potential buy entry.
Pattern:
🟢 Chart Patterns:
A reversal pattern in the form of a Rounding Pattern is forming, with a higher low (HL) internal leg that could lead this swing further down before it potentially reverses.
🟢 Candle Patterns:
After a Tower Top, the candlesticks have broken out to the downside in a narrow range, accompanied by gaps and momentum. The breakout was followed up by an engulfing candle, with a Dark Cloud Cover pattern in play, signaling strong bearish control in the market at this point.
Volume:
🟢 Despite the corrective move, there hasn't been a drastic decrease in volume, suggesting that this move is still part of a corrective phase. This implies that a significant buying opportunity may present itself at the POI.
Momentum RSI:
🟢 The momentum has shifted into a sideways zone after a long rally, with a range shift having occurred. However, according to Andrew Cardwell’s RSI analysis (Grandfather-Father-Son module), the overall market sentiment remains extremely bullish, indicating that this down move could just be a correction, and buying at the POI would be advisable.
Volatility Bollinger Bands:
🟢 After an expansion phase, the market may take some time to cool down, so it's not surprising if the price enters a sideways or corrective range for some time at these levels.
Strength ADX:
The ADX also suggests that this is merely a corrective move, with a strong potential for continuation of the previous bullish trend after the correction.
Rating: ⭐⭐⭐⭐ (4 Stars)
Probability: 80%
This setup has a high probability, with strong indications that the corrective move will provide a buying opportunity at the identified POI.
Planned Entries:
Counter Trade Entry (Sell):
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bearish
☑️ POI: Counter Trade Gap Down
💡 Decision: Sell Limit
🚀 Entry: 114.41
✋ Stop Loss: 120.1
🎯 Take Profit: 86.5
😊 Risk to Reward Ratio: 5RR
🕛 Expected Duration: 20 days
Main Trade Entry (Buy):
✔️ Entry Time Frame: Daily (D1)
✅ Entry TF Structure: Bullish
☑️ POI: Extreme POI
💡 Decision: Buy Limit
🚀 Entry: 87
✋ Stop Loss: 74
🎯 Take Profit: 180
😊 Risk to Reward Ratio: 7RR
🕛 Expected Duration: 60 to 180 Days
SUMMARY:
The analysis suggests a dual approach—first, a short-term counter-trade sell position based on the H1 structure with a favorable risk-to-reward ratio, followed by a long-term buy position in line with the bullish daily structure. The corrective phase in the daily timeframe is expected to present a strong buying opportunity at the identified POI, with a highly probable chance of significant upside thereafter. The two trade setups provide different time horizons and risk profiles, catering to both short-term traders and longer-term investors.
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.