NVDA

Trendline Rejection vs Breakout

Primary Bias: Bearish Rejection

• The confluence of the downtrend line and the 200 psychological level suggests sellers may defend this zone.
• If price fails to close above 200, expect a pullback toward the green support zone (~192–194).

Execution Plan:

• Entry: Short near 199.50–200.00 with bearish candlestick confirmation (shooting star, bearish engulfing).
• Stop‑loss: Above 202.50 (beyond the trendline and resistance zone).
• Targets:
• • TP1: 194.00 (green zone).
  • TP2: 190.00 (blue zone).
• Risk/Reward: Aim for at least 1:2.

Alternative Bias: Bullish Breakout

• A decisive close above 202 would invalidate the trendline resistance.
• Breakout traders could then target the purple zone (~206–208).

Execution Plan:

• Entry: Buy on breakout retest above 202.00.
• Stop‑loss: Below 198.50 (back inside the trendline).
• Targets:
• • TP1: 206.00.
  • TP2: 210.00+.