$NIO TOP 20 UPDATE
Added 2023-08-04 11:56:42 +0000 UTCWe got our answer yesterday, whether we were still in Subwave 4 or not, since we went above the previous high, this confirmed that Subwave 4 is complete and we are in Subwave 5 of Wave 3 now.
So we are watching for the 2 Fib now at $16.34, around this level is very important as this is a resistance level from previous highs, it has not gone above this trend line since Jan 2022.
A break above this level and it holds is a massive statement and our EOY target of $30 will be within a comfortable reach.
However, the 2 Fib is where we normally have Subwave 5 completing, so a pull back is normal here for Wave 4.
All going to plan, Wave 4 is where we would sensibly add.
Remember, the buy zone we added, then at Wave 2....which we did at $10.74 and $11.32. And again at Wave 4, ideally around $14.
If we can buy at this area, then we have executed our buys at exactly the right spots for this impulse wave and that is why the vast majority of us are up significantly on $NIO now.
I am assuming everyone is making profits on $NIO at this stage.
Ideally if we could spend as much time on a chart as we have done on $NIO, we would be able to focus more and make just as much on other charts. This might be something we should consider.
Comments
Thanks for the chart. Hopefully I can add more around 14, then sell some at 18.
Ahn jaehoon
2023-08-04 13:55:42 +0000 UTCSo wave C ends lower and not higher.
Dan G
2023-08-04 13:30:59 +0000 UTCThanks. Helps me decide how much to sell if wave C ends higher than my average.
Dan G
2023-08-04 13:27:49 +0000 UTCThank you!
CWT7
2023-08-04 12:53:31 +0000 UTCYes I am a LT holder and would only take around 30% profits, my EOY target of $30 is my focus
Gareth Neary
2023-08-04 12:41:27 +0000 UTCIf Wave 5 finishes at $18, the 0.5 Fib is at $12.60 and the 0.618 Fib is at $11.27 for the ABC corrective wave
Gareth Neary
2023-08-04 12:40:41 +0000 UTCMy NIO average is 11.64 so that makes perfect sense if price is likely to fall below this.
Dan G
2023-08-04 12:32:47 +0000 UTCIf I’m reading it correctly, the previous C was at $11 because wave 5 ends at ~$15, but it really does end at $18, C should be higher?
CWT7
2023-08-04 12:31:13 +0000 UTCIf so what kind of percentage do you recommend?
Dan G
2023-08-04 12:31:08 +0000 UTCAnd when you say take profit I assume your advice as a LT investor is not to sell the lot?
Dan G
2023-08-04 12:30:14 +0000 UTCThat's ok Dan, questions like this are good.....buying at $14 and taking profit at $18, at Wave 5, is a sensible strategy, using those profits to buy at the bottom of the ABC count will compound your profits then
Gareth Neary
2023-08-04 12:28:47 +0000 UTCOn the A B C wave down C is at $11.31. This is what you projected previously albeit early. If this remains the same why would someone want to buy at $14? Genuine question as I’m probably missing something. Cheers.
Dan G
2023-08-04 12:21:55 +0000 UTCTough to see any deep pull back here given the momentum
SH
2023-08-04 12:12:45 +0000 UTCThanks Capt. yep, we should consider this once we finally see the pull back as predicted. Assume a number of people are waiting for it as it did not come yet.
Bjoern Szymkowiak
2023-08-04 12:11:37 +0000 UTCTnx Gar
Kristof Van Nevel
2023-08-04 12:01:42 +0000 UTC
