$NIO TOP 20
Added 2024-01-03 14:26:26 +0000 UTCWe spoke about this possibility yesterday, that this Wave 1 (waves 1 - 5) was a leading diagonal, not common but always found in Wave 1, it is where waves overlap.
The price action of yesterday and todays PM has confirmed this now.
So 3 very important points to make now:
- The 200 Day MA
- The First Target, and
- The 0.618 - 0.65 (golden ratio) Fib levels are all at $8 right now.
This is a very important confluence level and the bulls need to hold this level, a failure to hold this level and although the impulse wave is not invalid, it will show weakness and the bears and shorts will feel in control.
No change to my plan, I will add if support is held at $8, otherwise I'll wait.
Comments
Crystal clear!
Federico Salerno
2024-01-03 14:33:59 +0000 UTC
