The Long Investor

$NIO TOP 20 UPDATE

Added 2023-08-08 10:44:08 +0000 UTC

PM continues to keep to the plan here.

i alerted yesterday in the TLI Telegram group that I still believe that another low would need to come in for Wave 4 to complete and we are seeing that play out here.

Zero rush at the moment but if you are accumulating more shares here but your intention is to hold long term, there is no issue with this.

I am a long term holder of $NIO but I have been very strict on where I am buying in order to get maximum value because we have spent so much time on this, I am willing to wait in both cases, wait for the right entry and wait long term to get added value.

Those who were here when $NIO was around the $10.74 level, will remember that we waited for nearly 2 weeks for the $10.74 level to be reclaimed again and the moment the price went above $11.32 we went heavy in again, perfectly timing the run for the aggressive Subwave 3 of Wave 3.

We do this because we want to make sure that the waves are following our structure, when we are happy to see support where we expect it, in this case testing the 1.27 Fib at $14.10 or even lower at the 1 Fib at $13.27, we want to see confirmation of support here, when we see this, it is a buy signals to us, it helps double down on our conviction.

Registration numbers and weak export figures from China this morning may not help this today so let's be prepared to embrace the red days.