NIO LONG So here we have a buy trade being executed at $10.20 to the resistance level of $11.70 which may go higher so we will secure partial profits if it reaches our target of 11.70.
I will be watching to see how price reacts to this level if we get an impulsive down candle the trade will be closed in profit.
We may look at shorts in the 11.70 area also but this will be updated if we take a short trade.
IF STOPPED OUT- We will look to buy again around 8.40-7.00.
Any thoughts much appreciated.