$NVDA / #NVIDIA | 1H Trade Setup Update Position: 🔴 Short

$NVDA / #NVIDIA | 1H Trade Setup Update

Position: 🔴 Short

Trade Details:
• Entry: 119.83 (0.65 Fibonacci Level)
• Stop Loss: 121.07
• Take Profit: 106.15

● Current Analysis: NVIDIA (NVDA) has broken below the 200-period moving average and is currently seeking support at a high-volume node located in the middle of its current range.

● Technical Indicators: Falling Momentum: Momentum is declining, signaling caution and potential further downside. Rising Money Flow & VWAP: Both indicators are increasing, suggesting that support may be forming around current levels. Stochastic RSI: Bottoming, indicating potential for upward movement despite the overall bearish trend.

● Outlook: This short position targets a move toward 106.15. Close monitoring is required around the high-volume node, as rising money flow and VWAP could signal a potential reversal if support is confirmed. The bottoming Stochastic RSI suggests the possibility of a short-term bounce, but the bearish momentum should remain the primary focus.