NVDA Topping Pattern

Unlike the previous call, I made in NVDA that was corrective.

This double-top pattern is signaling a reversal pattern.

From a trading perspective, this is a great risk/reward setup that is relatively simple. A CRACK! here will likely lead to at least the right side filling, with the potential deeper pullback (reversal)

If on the other hand, it pops above recent highs then no trade or an easy stop out.

As you all know I don't do targets, I think they are silly and only used to pretend one has such insight not only can they call the move but also a "target" too. Yeah well, I'll leave that to the "experts" ;)

Bulls don't be a dick for tick.
Shorts take some early profits to improve cost basis but let this one ride!

トレード稼働中

Nothing has changed. the setup is still valid.

ノート

Since my initial post back on Nov. 4th NVDA has gone nowhere despite markets soaring higher. Clearly not a bullish sign. Now NVDA has formed a H&S pattern while double topping. We could see a waterfall drop to fill in the right side of the M pattern on the bigger picture, as bulls get frustrated. Then we would look for a lower high.

トレード終了: 利益確定目標に到達

BREAKING: NVIDIA on course to lose $350 billion in market value based on pre-market trading

Well we got the right drop for the M pattern to complete in a grand fashion. NVDA down -11% plus in pre market.

Remember I made this call back.in Nov 4th. I am not one of those who wants to.post today bc of the drop to sell you some cute story as to why it happened.

Remember that! ;)

ノート

I am not sure why it says target reached. I did not select any such thing.

Anyway here is reality. We have much further to fall.