Watch out this support level on NIO! ๐
We have a few things to keep in mind here:
First, it is a bullish momentum, and rn it is just dropping to the support at the 20ma/previous resistance at 46.26. Nothing amazing. But, if NIO loses both supports, itโll trigger the advanced breakdown as the RSI suggests.
We have a small divergence in the 4h chart, just when we hit a resistance. Also, we went briefly outside the BB, but NIO managed to close inside the bands in the end, which is not a buy sign for sure.
You guys know that Iโm out of NIO again, and Iโm just waiting for another good opportunity around.
When Iโll trade it again? When it gets closer to a support level, that could be the 20ma or the 42 area.
If you liked this trading idea, remember to click on the โFollowโ button to get more trading ideas like this, and if you agree with me, click on the โAgreeโ button ๐.
See you soon,
Melissa.
First, it is a bullish momentum, and rn it is just dropping to the support at the 20ma/previous resistance at 46.26. Nothing amazing. But, if NIO loses both supports, itโll trigger the advanced breakdown as the RSI suggests.
We have a small divergence in the 4h chart, just when we hit a resistance. Also, we went briefly outside the BB, but NIO managed to close inside the bands in the end, which is not a buy sign for sure.
You guys know that Iโm out of NIO again, and Iโm just waiting for another good opportunity around.
When Iโll trade it again? When it gets closer to a support level, that could be the 20ma or the 42 area.
If you liked this trading idea, remember to click on the โFollowโ button to get more trading ideas like this, and if you agree with me, click on the โAgreeโ button ๐.
See you soon,
Melissa.
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