$NIO TOP 20

Ok so this looks different for two reasons, I needed to change the candles to hollow candles to show the gap that was left behind at the opening between $8.10 and $8.24 and I have eliminated the amber subwave count because this bounce now is likely part of the larger Wave 4 ABC count in red and on the previous chart.

From the moment $NIO opened today, messages came flooding in asking about $NIO because after 20 mins the trend had apparently changed.

We can see on a lot of charts at the moment that a number of stocks are getting extended, $NIO is no different, my plan has not changed here, I think there will be one more leg down here into the buy zone.

The price action can still go higher too, I have set the Wave 4 in red target at the 0.5 Fib but it can also go higher to the 0.618 and still be valid. This entire structure is a Wave 5, final wave count, so Waves can overlap here, they are called ending diagonal waves, it is also further confirmation that the corrective wave is ending as it can only happen in Wave 1 or Wave 5.

Remember, my charts are to assist your investing strategy, you do not need to wait for my charts to buy, there are a number of people who struggle with any price increase out of fear they are missing out.....this I can not help you with, this is the 9th time that the price has bounced since November and still went lower next.

IF this is the start of an impulse wave....you are incredibly early and with all impulse waves, there will be a pull back for Wave 2.....so I teach this on every chart, I can only lead a horse to water, I can not make them drink it.

On this chart, there is now a gap below and a number below that too. 

I am not seeing the start of an impulse wave yet, I can see three ABC waves and I have labeled them in amber now, as long as I can only see 3 waves, this is not the start of the impulse wave for me. Again, I do not mind waiting for confirmation, this is a high risk stock, I want a clear set up before adding.

If you are finding it difficult to wait, make the decision but some people are clearly struggling and I do not think that is healthy, there are opportunities everywhere at the moment and each day.