NIO Trade on Sep 2, 2020 11:22 from beno: Tradervue User Stock Trades.

Fundamentals

N/a

Catalysts / News / Painting the picture

-Jan 2020: Tesla sympathy play
-Jan 2020: Rumors about a $1 billion cash infusion from GAC Group
-Jan 2020: Lots of funding news lately
-Jun 03 2020: Upgraded to buy at GS
-Jul 08 2020: sympathy movement from TSLA / EV sector
-Aug 11 2020: Earnings: Revs up 146% Y/Q and up 171% Q/Q, Deliveries up 322% Y/Y
-Aug 27 2020: $75 share offering at $17 per share

Technical Analysis

-SPY pattern: Runner
-Intraday pattern: Bowl
-Other notes: N/a

Strategy / Confluence / Sizing Guide / Risk

Strategy: Distribution
Confluence: N/a
Strike Zone: 19.3 - 19.5
Sizing (lots + emergency): 250
Risk (stop / Rs): 19.39

Review / Lessons Learned

Chased the breakdown so risk was 19.39 above prior micro high, got out right at my structural target of 18.9.
My initial plan was to enter on a LH that tests the supply line but after seeing the build-up and breakdown at 19.3 I had to at least enter small because it was a high probability trade.