Yes, NIO broke our target for good today, and I'm almost completely out of NIO (holding 1/4 of my position). Yes, we are supposed to sell at our targets, but I think it is worth to hold some NIO, and set a trailing stop-gain under 38.40.
Now, it is impossible for us to lose any money, and we can just let NIO fly. If it doesn't, that's fine too. We'll look for another long trade if it drops.
The only reason why I'm still holding NIO is the 4h chart, and the RSI which is still not overbought. If it holds around the 61.8% retracement, it might drop more, peharps to the 20ma, where we can buy back again.
The RSI in the 30min is quite overbought, so, we need to be careful, and reduce the size of our trades.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Now, it is impossible for us to lose any money, and we can just let NIO fly. If it doesn't, that's fine too. We'll look for another long trade if it drops.
The only reason why I'm still holding NIO is the 4h chart, and the RSI which is still not overbought. If it holds around the 61.8% retracement, it might drop more, peharps to the 20ma, where we can buy back again.
The RSI in the 30min is quite overbought, so, we need to be careful, and reduce the size of our trades.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
