AAVE cryptocurrency - LONG trade. #15

P_S_trade Updated   
Hello colleagues!

We continue to publish our potential trades and today we have a potential short-term speculation.

The AAVE cryptocurrency is holding up very well on the local drop in Bitcoin and the medium-term upward trend for AAVE is not over yet:

As we can see on the 6-hour timeframe, the AAVE price has reached an important range from which a global correction may begin. But for now, we are interested in speculation on the 30-minute timeframe.

The key liquid zone for the local growth of the AAVE price is the range of $62.25-62.75. If the AAVE price falls below this liquid zone, a lot of buyer stop orders that are hidden behind each local low may be triggered:

If this happens, it will be logical to buy AAVE at $56-57 at the earliest.

Therefore, our local trade will have a fairly short stop loss, which, in our opinion, is quite fair.

AAVE short-term long

Enter = $62.25-62.75
Stop = 61.792 (- 1.01%)
TP1 = 64.10 (+2.71%)
TP2 = 65.08 (+ 4.31%)
P/L ratio = 4.26

P.S. We have also shown a potential short position on the chart. However, we do not place limit orders, as buyers can easily update local highs and only then start a correction:

We need to watch and make a decision at the moment of the $65 retest.

What do you think, will the trade work out? Write in the comments and we will check how many people were right!
We allocate $5000 for a short-term trade on AAVE. If the target is met, we will receive a profit of $215.5. If our stop order is triggered, we will receive a loss of $50.5.
Trade closed: target reached:

The price was a little short of the entry point. However, the goal was achieved.

The trade is inactive.

🎁 -10% on ALL trading fees OKX

🔥V-I-P cutt.ly/PwkLhT56

👍Crypto activities and free💲 cutt.ly/0w9VqL2X

🔵Telegram t.me/pstrade_eng

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.