Apr 18: a bottom is likely

TraderBwater Updated   
Weekly shows that the wxy correction has erased all RSI divergence and price also stops at the weekly "order block". A high chance that we will reverse from here. Daily shows that the last leg is likely finished with 5 waves in a C wave. A break above the red declining line will increase the odds that the bottom is in. Very likely as it coincides with the reversal in HSI (Hang Seng) index.
The drop on Apr 22 touches the 0.618 extension for wave C and perfectly bounced strong with a long bullish candle. Another clue that it has reversed, just like the HSI today. I would open a long position here with a tight stop at the Apr 22 low. Fantastic RR here.
NIO has broken out of the red declining line, retested it and is ready to fly


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.