NIO Inc.Short
NIO short. Head and Shoulders pattern with confirming volume
Working on creating viable trading set-ups. I feel as though this is a black and white head and shoulders pattern, where the neckline intersects with the .618 fib retracement line. There is clear descending volume, all the way through the pattern which is necessary to confirm it is truly a HS pattern. I placed the stop right above the ascending support line, and take those profits near the 28.00/29.00 dollar mark or just a little above the .618 fib line/neckline. If I am overlooking something please comment and let me know how I could improve this set-up. Thanks GLHF!!
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