TheSignalyst

NIO - Buy Setup Forming!

Long
NYSE:NIO   NIO INC
Hello everyone, if you like the idea, do not forget to support with a like and follow.

NIO is approaching a demand area in green, we will be looking for new buy setups.

Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?

Our red trendline is not valid yet so we will be waiting for a third swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it. (gray area)

Meanwhile, until the buy is activated, NIO would be overall bearish and can still dive inside the green demand before going up, or even break it downward.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

I was waiting exact same opportunity I had a bid different numbers then you but very close: me 35.7 you 37.65 me 24.5 you 26 so I agree with the plan :)
+3 Reply
If you put a horizontal line at the bottom of the March 8th price on the 4hr chart, it looks like a descending triangle is forming. Could indicate lower price direction?
+3 Reply
TheSignalyst agentsevn
@agentsevn, yes right, but until this one breaks below the green demand, I personally wouldn't be looking for sell setups.
+1 Reply
amazing
+2 Reply
@ahmadawada thank you ahmad
Reply
That chart leaves out 100K vehicles delivered and the red hot ET7 debuting at the Shanghai Auto Show Apr 19
May Numbers for Q1 are certified YoY blowouts. Be careful with your money on that bet. NIO is getting ready to separate from the EV herd.
+2 Reply
Reply
Cool idea
+2 Reply
@YMGroup, thank you so much YM
Reply
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