$NIO TOP 20
Added 2024-10-16 09:22:50 +0000 UTCThere is going to be a lot of questions today from the group that look like this:
'Is the pull back complete now for $NIO since we have tested the 0.5 Fib?'
As we will likely see a positive day for $NIO today after another healthy release of registration figures
But I can not confirm it right now that the pull back is complete:
The confluence levels is very clear at the 0.618 Fib at $5.18, so this can't be ruled out
The 0.38 Fib held for 4 days before being lost last week, so the support line was respected but didn't hold - but we were not expecting it to hold, as it was not a Wave 4 pull back, ABC pull backs come down to the 0.5 - 0.618 Fib levels
We just have one test of the 0.5 Fib and one hold, so I can not confirm support confirmation right now.
I can not tell you what to do here, I did this last year and I spent the last year regretting it and hearing every week that I told people to buy before support was confirmed, lesson learnt for me.
So weigh up what you see here and consider your strategy, if you are a long term holder, it should make it easier for you.
Comments
This is Wave A of the ABC wave?
Korosh Ataei
2024-10-16 15:58:01 +0000 UTCSo what price does it need to clear to confirm the completion then?
Arman
2024-10-16 12:48:42 +0000 UTCIt’s NIO it always drops to the lowest level. Waiting! And thank you!
Sofiane
2024-10-16 10:23:50 +0000 UTC
