$NIO Coming to terms with new primary elliot wave count..

16 nov 2024

The weekly RSI on NIO and the structure of the HSI over the past few years have had me worried since the $7.78 top, and what we have seen since then supports this as my new primary count, unfortunately. I had been stubbornly holding on, but now I need to consider cutting some of the position after the approaching bounce on smaller timeframes. However, if I must hold all of it and go scuba diving, I will.

16 nov 2024

Trade attivo

it may not reach those targets around $2. just potential targets with fib extensions at the bottom of the micro & macro channel.

16 nov 2024

Nota

Another note: We could be done soon it’s unclear to me. We have bullish divergence on some timeframes like 2hour when I expect a 5-3-5 sharp zigzag structure down from $7.78 to finish the proposed Y so could be completing around earnings next week but this Y wave would not be ideal and may not have the right look relative to the time and price of wave W from July 2023 at $16 down to $3.61 in April. Maintaining this bullish divergence on 2h makes me still believe it could be finishing because otherwise this is wave 3 of the first 5 wave structure in Y and there should be no bull div or it will go away from selling pressure.
TLDR: it’s unclear to me and I’ll probably hold everything

18 nov 2024

Nota

i think we finish wave 2 of C (within ABC of macro Y) in the coming days around earnings date 11/20.. then wave 3, 4, and 5 to complete C, and Y of the larger degree and the entire cycle..macro WXY potentially in January or February.. this is making more sense to me and I look forward to seeing the structure develop. Will hold all my shares and likely hold all my 2026 calls but wish I had waited a bit longer to get them.

20 nov 2024

Trade chiuso: obiettivo raggiunto

UPDATE: as I often do, i messed up the labeling and just want to be clear here than i think the macro Y wave in yellow is an ABC 5-3-5 zigzag structure and NOT wxy labeled in white...