hi traders,
Some time ago we shared the trading idea:
but this NIO set-up failed as the stop loss at 4,05 was reached.
Since then, NIO dropped 22%.
I see a potential that a local bottom is in as RSI hit oversold levels and the price is kind of respecting the downsloping channel.
I won't be calling any huge reversal yet because NIO has a lot to prove but expecting the bounce towards 4,90-5$ is reasonable here.
However, if the price drops and closes below 3,10$ , this set-up will be invalidated.
Some time ago we shared the trading idea:
but this NIO set-up failed as the stop loss at 4,05 was reached.
Since then, NIO dropped 22%.
I see a potential that a local bottom is in as RSI hit oversold levels and the price is kind of respecting the downsloping channel.
I won't be calling any huge reversal yet because NIO has a lot to prove but expecting the bounce towards 4,90-5$ is reasonable here.
However, if the price drops and closes below 3,10$ , this set-up will be invalidated.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.