Bullish setup of NIO(key zone: 52-55)

Feb 2, 2021

My trade idea is mainly based on daily chart. Basically, confluence plays.

If you're aggressive, you can already in this trade. Personally, I'm a bit conservative that I need to see the price action on 60m.

Feb 2, 2021

Note

I don't see what I want to see. So, take no action.

Feb 3, 2021

Note

It seems buyers are coming in at the bottom of the zone. They have to conquer the downtrend line as well as the control high.

Feb 3, 2021

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The momentum is strong. Entry point 56.6, stop loss is a bit tight around 54.40

Feb 3, 2021

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Perfect. Price goes exactly as what I expected. This is a momentum trade for the entry.

Feb 4, 2021

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My entry is 56.6 with stop 54.4 and target 1 59.6 respectively. Target 1 is actually the key zone of 15m and should be easy to hit.

Feb 6, 2021

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I was asked how NIO would go yesterday. I said momentum is still strong but watch out the key level of 56.25. I was right about the key level, but bit of too optimistic about the momentum. That's real trading. Market don't care our view. So, if the key level holds, target 1 is very likely to be hit. It missed a bit on Thursday.

Feb 8, 2021

Note

This is 15min chart. My previous marked key zone holds well, now it has to conquer the nearest supply zone to the upside.

Feb 9, 2021

Trade closed: target reached

After 7 days of the published idea, target 1 got hit finally.

Feb 10, 2021

Note

Trail your stops. I don't have specific target 2, so let's trail the stop until we get stopped out

Feb 18, 2021

Note

This chart shows exactly how important it is to trail your stops. yep. We gave some profit back to the market. but at least we left the market with some money. If you didn't manage your trade, your profit got wiped out.