devigriffel

Taking long after pullback

Long
devigriffel Updated   
BATS:NIO   NIO Inc.
* RSI heavily overbought 4h tf
* VOLUME starting to cool off
* Pullback after impulse!
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Just a reminder:
Fib extension 1.62% (2.36) may still be in play if price goes under 4.00 again
Its the ultimate low on my chart

Impulse leg what was formed 1.05 = April deliveries

Last time in April 2020: Price range 2.12-2.36 (matches with the current Fib 1.62) - where the rise started
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Taking the Long ONLY if the 4.00 price does not break!
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Fib 50 retracement and support line
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What does this form remind You? ABC correction (fib50) in bullish flag
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Got in, lets see how it will go.
News, sales etc all good for that move (ONLY MY OPINION!)
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I`ll take the risk
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We have Volume!
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Should be next move because : RSI overbought, downwards channel upper line and as always a little healthy pullback before upward continuation
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Breaker?
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