Long entry in NVIDIA! Fibonacci Analysis and Strategy¡Hi traders! Today, I’m sharing a long trade setup in NVIDIA (NVDA) that I’ve been watching closely. Let me walk you through my analysis and the plan I have for this entry.
Take a look at this: the Fibonacci retracement is perfectly drawn, from the recent low to the high, and now the price is reacting right at the key 0.618 level—a super important zone for potential buy entries! On top of that, the RSI is holding above 50, signaling bullish momentum with room to grow before hitting overbought conditions.
Here’s my plan:
- Entry: I’m entering now, taking advantage of the breakout and support confirmation at the 0.618 level.
- Stop Loss: I’ve set my stop slightly below the 130 level, just in case the price makes a deeper pullback.
- Take Profit:
- My first target is 154.67, which is the 1.0 Fibonacci level.
- If the bullish momentum continues, I’ll aim for 194.51 at the 1.618 extension.
What I love about this setup is that the volume doesn’t show any major weakness, and the overall trend is still intact. Of course, always remember to manage your risk—trading is all about probabilities, not guarantees.
What do you think of this trade? Would you take this long entry with me? Let me know in the comments, and don’t forget to subscribe to the channel for more analysis like this. See you in the next idea, traders! 🚀📈
Disclaimer:
This content is for educational and informational purposes only. It does not constitute financial advice or investment recommendations. Remember, trading involves risks, and every trade should be analyzed based on your own risk profile. Always consult a professional before making financial decisions. Trade responsibly and manage your risk!
