Support Zone
Updated
The trend is still down but:
- we are close to the April low and:
- we are touching the retracement tops of 2019 and 2020. They were the resistances before the
2020 strong rise begun.
I consider this zone therefor as a support level that may be not easily be broken.
- we are close to the April low and:
- we are touching the retracement tops of 2019 and 2020. They were the resistances before the
2020 strong rise begun.
I consider this zone therefor as a support level that may be not easily be broken.
Trade closed: target reached
I am closing the position taking the profit now. I am no longer convinced and think that NIO cannot rise against the overall weak market. Trade active
I am opening a short position now assuming a downward bias.Trade closed: stop reached
As I said, to short NIO was big error. And even together with the profit 2 days ago at the long side a big loss remains. 
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