NVDA - Short Term Update - Resistance Zone Incoming

From a short term perspective, NVDA may find significant resistance at the 117/118 level, and how it acts there will determine the coming months. What I want to see is a nice consolidation / falling wedge / falling channel from that zone to set up for more upside.

If we fallback into the channel I've defined, then likely we see further downside, even if just a bit, and we'll watch the waves from an EWT perspective and determine what we do moving forward.

Being an aggressive buyer back last Monday (black Monday?) was a good opportunity, especially long term. If you liked NVDA at $130, you should have loved it below $100. Certainly many scalping opportunities for the day traders, but wait for a quality setup and don't feel like you always have to be in a trade.

Have a great day everyone!