WestTexasAg said:
Heineken-Ashi said:
NVDA tracking to $117-$123
Feels like a good buying point. Thoughts?
Well the pattern I'm tracking is a series of 3-wave moves. So while the answer is yes, these diagonal patterns are unreliable in both directions as they overlap significantly. So if it can hold that range, I might grab a smaller sized position and I'll look for a move back up between $140 and $145, maybe sell there, and then look for a retrace back down holding a higher low. If THAT happens, then I will jump in.with a larger size looking for an impulsive move to top out between $170 and $180.
That is my thesis, and it has a blueprint and triggers along the way. I will not move in unless I get my triggers. And I will likely have a heavy finger on the sell button if things start to wobble too much, as I view this as a major topping structure that points to $90 on the horizon at the very least.