NVDA is setting up an interesting price action pattern, hinting at potential breakouts or consolidations. Here's a detailed trading plan based on technical analysis to help you navigate the next moves confidently.
1️⃣ Price Action & Chart Analysis
On the hourly chart:
* Trend Channel: NVDA is trending within an upward channel, showing higher lows and higher highs. The current price is testing the upper trendline resistance.
* Key Levels:
* Support: $137.75
* Resistance: $140.82
Watch for a breakout above $140.82 or a pullback to test $137.75 for entry points.
* Liquidity Zone: A liquidity zone appears between $137.75 and $140.43. This range is critical for observing where buyers and sellers engage.
2️⃣ Order Block & Supply/Demand Zones
* A visible demand zone around $137.75 aligns with the recent pullbacks, suggesting buyers are stepping in at this level.
* Supply zone near $141 aligns with previous resistance, making it a critical breakout level.
3️⃣ Scalping Strategy
For scalpers:
* Entry: Look for a breakout above $140.82 with volume confirmation. Target $142 for a quick profit.
* Stop-Loss: Tight stop below $140.43 to minimize risks.
* Volume Check: Ensure there’s increased buying volume for momentum plays.
4️⃣ Swing Trade Strategy
For swing traders:
* Entry Option 1: Pullback entry near $137.75 if it holds as support.
* Entry Option 2: Breakout above $141 with a daily close confirmation.
* Targets: First target at $145, second target near $150 if momentum continues.
* Stop-Loss: Place stops below $137 for pullback entries or under $140 for breakout plays.
5️⃣ MACD & Momentum Insights
* MACD on the hourly chart is curling upward, indicating bullish momentum.
* Keep an eye on a potential divergence if the price starts consolidating near resistance.
Game Plan for Tomorrow
* Scenario 1: If NVDA breaks $140.82, wait for confirmation with volume to enter. Trail stops as the price approaches $142 and $145.
* Scenario 2: If it rejects $140.82, prepare for a pullback to $137.75, where scalpers can look for a quick bounce.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Trade responsibly and manage your risk effectively.
1️⃣ Price Action & Chart Analysis
On the hourly chart:
* Trend Channel: NVDA is trending within an upward channel, showing higher lows and higher highs. The current price is testing the upper trendline resistance.
* Key Levels:
* Support: $137.75
* Resistance: $140.82
Watch for a breakout above $140.82 or a pullback to test $137.75 for entry points.
* Liquidity Zone: A liquidity zone appears between $137.75 and $140.43. This range is critical for observing where buyers and sellers engage.
2️⃣ Order Block & Supply/Demand Zones
* A visible demand zone around $137.75 aligns with the recent pullbacks, suggesting buyers are stepping in at this level.
* Supply zone near $141 aligns with previous resistance, making it a critical breakout level.
3️⃣ Scalping Strategy
For scalpers:
* Entry: Look for a breakout above $140.82 with volume confirmation. Target $142 for a quick profit.
* Stop-Loss: Tight stop below $140.43 to minimize risks.
* Volume Check: Ensure there’s increased buying volume for momentum plays.
4️⃣ Swing Trade Strategy
For swing traders:
* Entry Option 1: Pullback entry near $137.75 if it holds as support.
* Entry Option 2: Breakout above $141 with a daily close confirmation.
* Targets: First target at $145, second target near $150 if momentum continues.
* Stop-Loss: Place stops below $137 for pullback entries or under $140 for breakout plays.
5️⃣ MACD & Momentum Insights
* MACD on the hourly chart is curling upward, indicating bullish momentum.
* Keep an eye on a potential divergence if the price starts consolidating near resistance.
Game Plan for Tomorrow
* Scenario 1: If NVDA breaks $140.82, wait for confirmation with volume to enter. Trail stops as the price approaches $142 and $145.
* Scenario 2: If it rejects $140.82, prepare for a pullback to $137.75, where scalpers can look for a quick bounce.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Trade responsibly and manage your risk effectively.
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.
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.