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 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 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.
All Strategies Are Good; If Managed Properly!
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