$NVDA | WEEKLY WATCHLIST 11/1

One of my better counts that I'll be watching develop. We have hit and rejected the 1.618 fib extension wave 3 target of $257.32. I anticipate some distribution to occur this week near this level before an ABC major wave 4 retracement takes place. This should take us anywhere between $226-242 (I know this is vague for now since not much clarity yet) and should expect a bounce somewhere in this price range. Once we can confirm all of this is correct thus far, I will then consider starting my long swing for the wave 5 target of $290-300. Patience is a must here and we will most likely be tracking this setup for 2-4 weeks.