$NIO TOP 20 UPDATE
Added 2023-04-11 15:06:49 +0000 UTCThe day is still young but we got our bounce today after talking about it yesterday that we needed it, remember bounces in downtrends are just as important as pull backs in up trends. I am not surprised to see chasers getting caught out and pushing this to the 0.5 Fib, it could still go to the 0.618 Fib too but I still expect a pull back and to follow the chart.
We expected a bounce, we got a bounce, it stopped right in the middle of the SubWave 2 fib zone so we are happy. So the sooner we get into Subwave 3 the better because that is when we expect this to move fast.
Comments
It got rejected at the 0.5 Fib, it is now battling the 0.38 Fib, we want this to stay under the 0.38 Fib, it doesn't have to happen today because I have seen enough so far but I expect shortly that the 0.38 Fib will be lost too.
Gareth Neary
2023-04-11 16:48:55 +0000 UTCIs it correct to assume that NIO got rejected at the .5 Fibonacci and now is trying to reclaim 0.382 but is unable to do so?
Peter C
2023-04-11 16:46:48 +0000 UTCI am happy that Subwave 2 could be complete now
Gareth Neary
2023-04-11 15:48:58 +0000 UTCDo you believe NIO has one more leg up? Looks pretty exhausted to be honest RSI on the 1HR is above 70…
Peter C
2023-04-11 15:36:55 +0000 UTC
