We have reached a falling trend line now. The level is also the top since June. As we opened lower today and the momentum is declining this may mean that the range which we entered in March may not be exceeded.
Trade closed: stop reached
A stop is a stop. Perhaps I will sell it again today.
Trade active
I don't want to leave the day without being short on NIO. Nothing has changed.
Trade closed: target reached
I am taking the good profit now.
Trade active
I sold again at a somewhat better price. Nothing has changed.
Trade closed: stop reached
The situation looks a bit different now. The ADX doesn't look that bearish at moment and there is no momentum developing. A rising wedge may be built with the danger of a bullish breakout. I still prefer the downside yet but will watch a while before taking a new position.
Comment
I need at east a lower high to think about a new short position.
Trade active
The weekly chart says that we are staying well below the descending resistance and the weekly momentum is still bearish. Ahead of the expected FED move this may be seen as a bearish bias.
Trade closed: target reached
I am taking a first good profit now but will still remain short.
Trade active
The run in the pre-market could not be true and I had used it for a little intraday short which has been closed already.
Comment
Friends, sorry to be late with this announcement: I am temporary long NIO now! Over 1 hour ago I had bought them. Thus I took all the fine profit of the short and bought the same amount after the profit taking. As this is not my prefered direction of NIO I will sell the soon. It is all intraday speculation.
Trade closed: target reached
I am selling my NIO stocks now taking the fine long profit as well.
I am sorry that I could not tell my long position earlier. I was busy and left a stop buy order at 5.19 which had been luckily executed.
Now I am squared NIO and have to make a new analysis. It is to vulnerable at moment and the danger of being stopped out is to large.
Trade active
I am short again at higher price now. Seems that the market has found its top for today. The daily candle could not exceed the previous day and is engulfed by it. This both looks like lost momentum to me. It is worth another short.
Trade closed: target reached
I was absent for a couple of days. Meanwhile my NIO has been bought back by a take profit order on Monday. Thus I have taken all the good profit of this NIO idea and am squared on NIO now. Just to remember, I had sold the last portion of the stock on Sept. 19th at 5.325 and bought them back on Monday the 23rd at 5.275. It was not the maximum possible but a good trade anyway.
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