The Long Investor
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$NVDA
🕑 Added 2025-04-02 11:15:17 +0000 UTCBig win this week for $NVDA is staying above $100 and out of the red danger zone, a lower low below the Wave 4 level at $92 and we have to rule out this being an impulse wave and it can only be in a corrective wave now.
Waves in Wave 5's can overlap each other but they CAN NOT go lower than the previous wave low, so once an impulse wave becomes invalid, we can therefore confirm the ABC correction.
There is a large bull flag forming but likewise there is a death cross between the 50 and 200 Day MA, so certainly mixed signals here.
For me, while the price action is below the 50 and 200 Day MA's then the trend favours the bearish scenario unfortunately, bulls have a lot of work to do here.
Comments
safoo
Thinking out loud here, if anyone wants to help validate my understanding of the chart and Cap’s commentary: so either we reverse soon and complete Impulse Wave 5, or we break down below 92, in which case the current downtrend is confirmed part of a Wave A. I’m still left holding a bunch of NVDA and want to find right time to sell. So seems like waiting for the Wave 5 or, if breakdown, then wait until Wave B to sell would make sense having already held down in my case
AkitoCC
I wonder the same
Taylor D
While setup favors the bear scenario you're still inclined to wait for confirmation before trimming, right?
