The Long Investor

$NIO TOP 20

Added 2023-04-03 21:04:02 +0000 UTC

Great day for us patient waiters, we did not chase and it rejected hard attempting to get back into the wedge at $10.80. We have been here before, so it wasn't as big of a surprise to see it reject....the count was and is still looking corrective, this will only be confirmed once we go below $9.53. When it goes below $9.53, it confirms that it is not an impulse wave and we can expect new lows to be tested again.

So I uploaded two charts, one that we've been using for months now and one showing Subwave IV complete.

On the main chart, I can see that Subwave 1 of the final Wave 5 is not complete yet, so I will be watching for this Subwave 1 to infringe below $9.53. $9.45 is the likely price and then we will be watching for Subwave 2, which is of course a bounce in a down trend, so please please do not get caught here chasing!!

Once Subwaves 1 and 2 are complete, I can chart the rest of the Subwaves accurately and we will have a really good idea where this bottoms out and we can start preparing our buys.

Well done everyone that kept with this, in spite of this big test, we trusted our charts.