I did initially expect markets to open higher this morning, but Asian session was a mess, which is fine - still goes to plan.
I believe that we are going to try to establish a trading range floor on NIO in the local range that has been consolidating. I believe a Wyckoff distribution pattern has developed.
You should be expecting a SHARP rally to break the $13.28 high into the 10AM trade hour, followed by price falling right through the trading zone floor we are establishing this morning with a double bottom to go into the first sign of weakness area.
I believe that we are going to try to establish a trading range floor on NIO in the local range that has been consolidating. I believe a Wyckoff distribution pattern has developed.
You should be expecting a SHARP rally to break the $13.28 high into the 10AM trade hour, followed by price falling right through the trading zone floor we are establishing this morning with a double bottom to go into the first sign of weakness area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.