My NIO short

٢ ديسمبر ٢٠٢٠

Last week on November 23rd I took a short trade on NIO. I also talked about the trade and the additional confirmation of what was going on in the EV sector in the video linked below.

I wanted to have this trade marked for posterity as it was just a great example of the same strategy I use on all instruments and all timeframes. It's very simple...

• Break of Support/Resistance
  
• Pullback to confirm that Support/Resistance for entry
  
• A target that can gives 3-to-1 Reward/Risk
  

This is the recipe I have used all year playing stocks and making consistent gains. It makes me respect Support and Resistance and stay PATIENT for setups rather than jumping in.