Is it just me or is NIO shaping up into a descending triangle at support.. the next major support is at $49.. Let's wait and see. it would make sense following the huge gains and hype around the "just gone Nio Day"
Possible shorting opportunity the break of the wedge..
I am already short from somewhere near the top..
if there is a break of the wedge then i may open another position with a tighter stop loss
AUD seems real weak right now and YEN is booming.. at least up until the rate decision ON THE 31ST OCTOBER!!!
any questions feel free to ask
1.14106 area has been used as resistance ( purple arrows ) and more recently as support ( blue arrows ) which price is currently at, mix this with the trendline ( blue line ) that price has been respecting, we can see a descending triangle forming, This is price been squeezed and when this happens we normally see an explosive move to the upside.
So either today...