Ok, NIO is very close to our first target, but is it worth to hold it longer?
There are some strategies we can use. First, since we do have a RSI divergence in the 30min chart, and NIO looks overbought, we could just book profits and call it a day. But, I believe if we book profits partially is a better strategy, because despite the possible correction ahead, NIO still looks good. It is time to book something around 25 - 50% of our trade.
We have a good and steady bull trend in the 4h chart, and the RSI is not that overbought yet. This tells us that we do have more upside ahead, and NIO could break the 61.8% retracement in this case.
I see now as a good time to avaliate our strategy, and act according to the next movements. But I'm still optimistic with NIO, and if it drops, it wil be another chance for us to buy more.
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.
There are some strategies we can use. First, since we do have a RSI divergence in the 30min chart, and NIO looks overbought, we could just book profits and call it a day. But, I believe if we book profits partially is a better strategy, because despite the possible correction ahead, NIO still looks good. It is time to book something around 25 - 50% of our trade.
We have a good and steady bull trend in the 4h chart, and the RSI is not that overbought yet. This tells us that we do have more upside ahead, and NIO could break the 61.8% retracement in this case.
I see now as a good time to avaliate our strategy, and act according to the next movements. But I'm still optimistic with NIO, and if it drops, it wil be another chance for us to buy more.
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.
