Nio blew it's shot to reenter my triangle and breakout to the upside on Jan 4th(check out the red arrow). I bought puts $30 puts when my $33 dollar entry alert triggered with $34 stop loss. That stop loss is now at $32. This failure will most likely send the price to retest support at $28. Personally I don't think it will hold but we'll have to wait and see what volume looks like at that level to decide whether we continue shorting or not. $27.50 might be another entry to consider with a $28.50 stop loss. If that support turns resistance I see $20 as a real possibility. Again there's some variables to consider before executing this trade but it's not looking good in the short term... Technically speaking. 
NIO
NIOTrade active
My SL is now $30.50Trade active
SL is $29 My puts are in the money. I'm in profit no matter what happens it's just a matter of how much profit can I takeTrade closed: target reached
Closed out this morning
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.