NIO - Will Rise From Ashes 🦅

25 lut 2023

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📉 NIO has been overall bearish trading inside the falling wedge pattern, and it is currently diving inside a weekly demand zone 6.5 - 10.0

The bears are still in control managing to make new lower lows. But, we can clearly see that the impulse movements are getting flat and small.

This signals an early alert that the bears are exhausted. However, it doesn't mean that bulls are in control yet.

🏹 For the bulls to take over, hence have a long-term shift in momentum, we need a break above the last major high in gray.

📊 Meanwhile, until the bulls take over, NIO can still dive till the lower bound of the demand zone around 6.5

📕 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich