On my previous post on NIO I had mentioned that I am unsure as to where price would be headed to and I mentioned a few possible outcomes. At the current price point it is still very difficult to predict where price will be but I am anticipating for price to move toward my long imbalance area before making a newer high. It could be possible that we could see a brief reversal in price the next following days to pick up more liquidity before hitting my area of imbalance. This is entry in which I have set a buy limit order with a stop loss on my indicated protected low. My price target is $64.51 while having take profits along the way. I am playing this a little less conservative as my stop loss is on the second protected low, with a RR of 1:7. However, if wanting to go more conservative, a possible stop loss is on the first protected low, with a RR of 1:16. This is more of a swing trade with potential scalping options.
