In this technical blog, we will look at the past performance of 1-hour Elliott Wave Charts of NVDA. We presented to members at the elliottwave-forecast . In which, the rally from the 28 December 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
NVDA 1-Hour Elliott Wave Chart From 2/05/2023
Here’s the 1hr Elliott wave chart from the 2/05/2023 Weekend update. In which, the short-term cycle from the 1/31/2023 low ended in wave 1 at $219.49 high. Down from there, the stock made a pullback in wave 2 to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $207.89 low. Wave ((b)) bounce ended at $217.45 high. And wave ((c)) managed to reach the blue box area at $206.04- $2198.85 equal legs area.
From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
NVDA Latest 1-Hour Elliott Wave Chart From 2/10/2023
Above is the Latest 1hr Elliott wave Chart from the 2/10/2023 Post-market update. We can see the stock is showing a strong reaction higher right after ending the zigzag correction within the blue box area. This allowed members to create a risk-free position shortly after taking the long position at the blue box area. It already made a new high above $219.49 high & confimred the next extension higher. Now as far as it remains above $206.04 low another new high towards $237- $245 area is expected to take place before entering into another pullback.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITYAND LIABILITYTrading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk.However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal,analysis, or content.Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted onthe website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s).In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else.Please understand and accept the risk involved when making any trading and/or investment decision.UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization.UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firmwho received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
