NIO trade ideas
NIO - GAPPED OUT OF ITS BACKSIDE!!!I'll start by stating, I’m a fan of NIO, and I’m not looking to shit on it at all, this is all purely TA, I haven't factored in any fundamentals (please comment with any you're aware of - sharing is caring! :) ), this is purely an outlook for long term holders, but also with a scope for my fellow day traders who might want to note the more longer time frame levels so they can factor into their intraday TA.
Being brutally honest - I don’t feel there’s a positive outlook here! NIO has some rather interesting gaps formed at certain stages of past market action, and as such I myself am keeping an eye on the gaps.
Let me explain what’s going on with my chart;
ORANGE BOXES = GAPS formed on the daily (D) timeframe:
- 7 In total – Ranging from:
- The lowest at: $2.57/61 (0.04c gap)
- The highest at: $58 (0.60c gap)
BLUE BOXES = GAPS formed on the weekly (W) timeframe:
- 3 in total – Ranging from:
- The lowest at: $9.35/$10.51 ($1.16 gap)
- The highest at: $26.35/$27.22 (0.87c gap)
- Middle at: $19.42/.82 (0.40c gap)
- $2.43 total gap’s price.
RED TREND LINES – 2 in total –
Top trend line goes from highest wick ($66 / Jan ’21), down to Jan ’23. Price touched and retraced from this trend line at end of June 2021 (W/28.06) , and then once again in November 2021.
Bottom trend line intrigues me – its just below a daily gap that was formed during the 2020 pump, which was filled January 2022 (2 years to fill). The bottom red trend line sits just above this zone, and has also proven to be strong resistance – this was tested multiple times this year
MY PREDICTION IS AS THE WHITE LINE PROCEEDS MY FRIENDS!
The best of luck to all trading/investing, and lets all be nice to one another whilst sharing idea's!
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.
NIO Dip $ Target we need to hold above our current support above the 8.95$ to confirm the reversal and breaking first the resistant at 9.33$, then go towards the 10.50$ resistant which will be a turning point for nio to confirm the reversal and enter in to bullish trend again.
however if we didn't hold above the 8$ support , we going towards the bottom for this year above the 5.60$+.
$NIO Daily Cypher Another low conviction idea, I will look for same bullish price action here at the 786/886 box (fib extension) of NIO's Cypher pattern set up.
Price action= Pin bar, Engulfing Bar, Inside Bar. I will update my entry if i get there.
Aim for Tp 1 and got stop even, take 1/2 off, then aim tp 2.
For everyone that unfollows me for sharing free content in my last video, I will post a play in their honor. What a strange site, try to help folks with stuff that took me countless hours to learn and
perfect, ask for absolutely nothing in return, people leave. Yet many very talented traders come to me to learn.