Update on NIO, a new low for the flag pattern
Two weeks ago, we made a post about the current situation on NIO where we were observing a clear corrective structure.
- The situation we are currently in, stills the same; however, the sideways movement we were observing made a new low, and we need to recalculate the structure
- Our Previous entry-level was not executed (that's the main reason why it is so important to always trade above B as a breakout trader)
- Now, we will keep working with the previous entry-level, and we will set our stop below the new low "C."
- The Risk-Reward ratio we have with this new setup is around 1.6
-Conclusion: The setup stills active, and we need to pay attention to new lows. We will not develop any setup here if the risk-reward ratio towards the Final target is less than 1.5
- The situation we are currently in, stills the same; however, the sideways movement we were observing made a new low, and we need to recalculate the structure
- Our Previous entry-level was not executed (that's the main reason why it is so important to always trade above B as a breakout trader)
- Now, we will keep working with the previous entry-level, and we will set our stop below the new low "C."
- The Risk-Reward ratio we have with this new setup is around 1.6
-Conclusion: The setup stills active, and we need to pay attention to new lows. We will not develop any setup here if the risk-reward ratio towards the Final target is less than 1.5
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