NVIDIA is at balance. Here are my long/short scenarios
When you trade the Model of the Medianlines/Pitchforks, you know now that price of NVDA is at balance.
Why?
It's at the Center-Line.
From here Chances for up or down are equal weighted
Details?
Well, price closed above the CL. This is bullish.
Price usually pull back to it.
Then it should continue to the other extreme, which is the Upper-Medianline-Parallel.
If it fails it's target and instead open and close below the CL, we have a short at hand.
OK, so how could we play either side?
LONG:
After the pullback to the CL, I watch for a upside continuation. I want price closing above a previous candle. Stop/Loss goes below the CL.
Profit target is the U-MLH.
SHORT:
After a open/close below the CL, I'm short immediately and my stop is above the highest Bar above the CL.
Profit target is the L-MLH.
Save trading4all
Why?
It's at the Center-Line.
From here Chances for up or down are equal weighted
Details?
Well, price closed above the CL. This is bullish.
Price usually pull back to it.
Then it should continue to the other extreme, which is the Upper-Medianline-Parallel.
If it fails it's target and instead open and close below the CL, we have a short at hand.
OK, so how could we play either side?
LONG:
After the pullback to the CL, I watch for a upside continuation. I want price closing above a previous candle. Stop/Loss goes below the CL.
Profit target is the U-MLH.
SHORT:
After a open/close below the CL, I'm short immediately and my stop is above the highest Bar above the CL.
Profit target is the L-MLH.
Save trading4all
Comment:
Looks good
But I want to see a whole candle below the CL, even better a pullback to the CL.