I Show a long drawn from the low in 2009 to a high at $35.72, and a resulting pullback to a Measured Move 50% line.
That GREEN LINE, way up there which was just struck at $43.55, is a TARGET LINE. Price action tells us that we are in a pullback. The next Measured Move, however, is HARD to draw up and predict.
Ask me if you want training on this.
DJ
I looked at NIO and it has fallen from a high near $70:
Price has “pulled back” (meaning, dropped after rising) for the fourth time since Mar! When we see a level get tested over and over and it finally BREAKS lower (and breaks that price level) it can be considered a LONG trade that could fail spectacularly.
We saw some technical Consolidation action and now...
