$NIO TOP 20
Added 2024-10-08 11:25:05 +0000 UTCNo change to the chart
No change to the commentary
We can eliminate the alternative chart for $NIO now
Price is exactly at the 0.38 Fib now in the PM, so I am looking to see if Wave A will complete today.
Between the 0.5 - 0.618 Fib levels is the key area for me to see the full ABC pull back, the 200 Day MA is already there waiting and the 50 Day MA is moving up to the 0.618 Fib level too
There could be a relief bounce today and dip buyers step in but I will be waiting for a rock solid confirmation of support at the 0.5 Fib or below, for reasons I explained yesterday.
If your plan does not align with me, that is fine and you are comfortable with DCA'ing in, then make sure you split your allocation and don't buy all in one buy, the price action still needs to stabilise
$NIO will beat you if you get greedy, it can humble everyone
Do not forget the lessons here.
Comments
Would we expect .382 for Wave A, the .236 fib for Wave B (or the $7.02 line) and then down between the .5-.618 fib or aligning confluence levels in an around for Wave C?
Karl
2024-10-08 13:58:17 +0000 UTC
