$NIO **IMPORTANT**
Added 2022-12-20 17:21:00 +0000 UTCOk so if we look at the $NIO structure, and using the exact same process as we explained on the Tesla chart today, we will see that, Nio bottomed (or potentially bottomed) at the very important 1.618 fib level, which is an extension of Wave 1 and 2 of C.
Which is the perfect place to bottom and see a reversal. Which is why I started adding to Nio, once we bounced there.
That being said, for Wave 5, I can not see 5 waves, I just see 3 waves. This is a problem.
We need to see 5 waves to make it a perfect EW structure.....I would love to be wrong here and we don't see a perfect 5 wave structure and the bottom hit the 1.618 Fib level.....and this is why a lot of people have stopped charting Nio online now, they are confused and I have sympathy for them.
So we need to be prepared for both eventualities. Either way, if we have one more leg down, I am adding very aggressively when it goes to the new all time lows, because fundamentally, this has no right to be this low and makes it the best buy opportunity out there, at that price, I feel.
Comments
Thanks for the answer! Makes sense
Ram
2022-12-21 18:12:13 +0000 UTCThis is a good question, it is better to work off price instead of timing. My charts are designed in a manner where price is the dominant driver. Predicting the timing of stocks is a fools game, nobody can properly do that, that is why I never use options. I let the lengths, structure and price action of the waves determine the direction and therefore the possible, likely dates. So aim for price targets and not dates.
Gareth Neary
2022-12-21 17:49:20 +0000 UTCAre you charts just based off of price or also time? On your long term chart it shows nio to $110 by 2025, i’m wondering if you think it will hit that target by then or if you just think it will hit $110 eventually? And how do you calculate the timing?
Ram
2022-12-21 17:45:24 +0000 UTCYep, is possible
Gareth Neary
2022-12-20 17:48:31 +0000 UTCAll time lows at the yellow horizontal line at $5ish?
Steve Suric
2022-12-20 17:43:23 +0000 UTC
