Weekly shows that the wxy correction has erased all RSI divergence and price also stops at the weekly "order block". A high chance that we will reverse from here. Daily shows that the last leg is likely finished with 5 waves in a C wave. A break above the red declining line will increase the odds that the bottom is in. Very likely as it coincides with the reversal in
HSI
(Hang Seng) index.
HSI
(Hang Seng) index.
Comment:
The drop on Apr 22 touches the 0.618 extension for wave C and perfectly bounced strong with a long bullish candle. Another clue that it has reversed, just like the
HSI
today. I would open a long position here with a tight stop at the Apr 22 low. Fantastic RR here.
HSI
today. I would open a long position here with a tight stop at the Apr 22 low. Fantastic RR here.
Comment:
NIO has broken out of the red declining line, retested it and is ready to fly