Trade idea on NVDA.
This is an update on a setup I'm interested in trading if everything gets aligned with the current filter I'm using.
In the current context, we can see that the price has been on consolidation for the last 107 days, with a drawdown of 40%.
So, based on that context, I looked for similar scenarios in the past using the logarithmic chart, and these are all the similar conditions I observed.
If you take all of them, you will see a consistent pattern after the breakout, where we tend to observe a correction. Assuming a trade in all of them on a new high and a stop loss on a new low, I have concluded that the pattern is profitable; therefore, I will be looking for this movement before developing setups.
Thanks for reading! Feel free to share your view or charts in the comments.
This is an update on a setup I'm interested in trading if everything gets aligned with the current filter I'm using.
In the current context, we can see that the price has been on consolidation for the last 107 days, with a drawdown of 40%.
So, based on that context, I looked for similar scenarios in the past using the logarithmic chart, and these are all the similar conditions I observed.
If you take all of them, you will see a consistent pattern after the breakout, where we tend to observe a correction. Assuming a trade in all of them on a new high and a stop loss on a new low, I have concluded that the pattern is profitable; therefore, I will be looking for this movement before developing setups.
Thanks for reading! Feel free to share your view or charts in the comments.