DESCRIPTION: In the chart above I have provided and updated micro analysis of NIO along with updates SUPPLY & DEMAND POCKETS.
POINTS:
1. NEW DEVIATION OF 10 POINTS beginning from 9.50 as it sits as major DEMAND FLOOR.
2. Descending Triangle pattern is now officially broken toward the UPSIDE.
3. 11 POINTS IS FIRST CRUCIAL SUPPORT THAT MUST HOLD EVEN IF IT MEANS A CONTINUATION OF SIDEWAYS MOVEMENT.
SCENARIO #1: Entry point for BULLISH scenario is marked at 11 POINTS where DESCENDING TRIANGLE PATTERN IS INITIALLY BROKEN.
SCENARIO #2: Entry point for BEARISH scenario is marked at 8 Points where if price is too linger any lower we will most certainly come to see 6 Points.
FULL CHART LINK:
www.tradingview.com/chart/UUCv2fGk/
NIO
POINTS:
1. NEW DEVIATION OF 10 POINTS beginning from 9.50 as it sits as major DEMAND FLOOR.
2. Descending Triangle pattern is now officially broken toward the UPSIDE.
3. 11 POINTS IS FIRST CRUCIAL SUPPORT THAT MUST HOLD EVEN IF IT MEANS A CONTINUATION OF SIDEWAYS MOVEMENT.
SCENARIO #1: Entry point for BULLISH scenario is marked at 11 POINTS where DESCENDING TRIANGLE PATTERN IS INITIALLY BROKEN.
SCENARIO #2: Entry point for BEARISH scenario is marked at 8 Points where if price is too linger any lower we will most certainly come to see 6 Points.
FULL CHART LINK:
www.tradingview.com/chart/UUCv2fGk/
NIO
