SUMMARY
Nvidia (NVDA) has had a rocke surge of the past couple years. Could GPU bitcoin mining demand have anything to do with it? Of a primary cycle, it has placed waves 1,2 and 3 and I believe a correction for wave 4 is in progress. The below chart also shows that the MACD peaked and is now declining to accomodate the retracement.
The prior flag (blue) was the biggest pause poin in the near vertical move. I believe wave 4 correction coudl also take the bull flag pattern. Yes, it could morph into a triangle or become a complete wxyxz complex type. Is this the time to be trading in and out? Not I, because corrections are the most notoriously difficult analysis to make given the 34 possibilities at every twist and turn. However, wave 5 should enable all time new highs.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
