Image Source: PixabayIn this technical article we’re going to take a look at the Elliott Wave charts of Nvidia Stock (NVDA) published in members area of the website. As our members know, we generally favor the long side in NVDA, due to impulsive bullish sequences. Recently, the stock has corrected the cycle from the August 90.68 low. We got a pull back which unfolded as an Irregular Flat pattern.Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.
Elliott Wave Expanded Flat TheoryElliott Wave Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes above the starting point of wave A.  Wave C ends bellow the ending point of wave A . Wave C of  Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.At the graphic below, we can see 3 types of  Elliott Wave Flat structuresNow, let’s take a look what Elliott Wave Flat Pattern looks like in the real market
NVDA 4h Hour Elliott Wave Analysis 01.28.2025.Currently, NVDA is correcting the cycle from the 90.68 low. Elliott Wave analysis suggests that the pullback is unfolding as an Irregular Flat Pattern. When analyzing the lower time frames, we observe that the inner subdivisions of waves (A) and (B) in blue exhibit corrective sequences. Wave (B) has broken above the starting point of wave (A), while wave (C) has broken below the starting point of wave (B), which is characteristic of an Irregular Flat pattern.At this stage, the (C) leg still requires another wave up to complete its structure as a 5-wave move. We recommend that our members avoid selling at this stage. The target for wave 5 in red would be the inverse 1.236 Fibonacci extension of wave 4.More By This Author:Navigating The EURUSD Landscape: A Detailed Analysis Of Recent Movements Strong U.S. Economic Data Dramatically Reduces Chances Of Fed Rate CutsNasdaq 100: Key Resistance Breaks And Upward Momentum Ahead