$NIO really does love a Fib level, yesterday we spoke about it moving up to the 0.618 Fib, it could have gone higher but it stopped at the likely spot and has come down since, it has dropped below the 0.5 Fib and more importantly, it is struggling now to hold the 0.38 Fib at $9.53. I spoke earlier in the Telegram group that this was the price I am watching and it has not presented any surprises.
So we are waiting for confirmation of Subwave 3 to start now, this can only be confirmed when Wave 1 and Wave 2 of Subwave 3 are complete, so I suspect we are in Wave 1 but it is not complete yet.