AAVE has been quite true to its Fibs/Waves. Currently range defined by high and low tf fibs. IF correction is done, then $500 should be next.
Drag DOWN on PRICE scale to see above/below. Drag RIGHT on TIME scale to see bigger picture. Use "Make It Mine" under SHARE to copy chart.
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I do not use "Fibs" in the "traditional" manner (retracements). I use Fibs to plot "Ripples" (extensions) created by "Impulses". Then look for "Confluences" to map the "interference Pattern".
My TV collection of ideas detailing the Concepts: Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6:
Above chart has one "Golden Growth" fib in Blue+Gold (see ch 5 above). There is also a local "Linear Fib" in Green of the bounce (ch 1 and 2 above). Confluences of Fibs map the "Zones of Interest" (need to start a chapter).
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Comment
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Range bottom broken.
Marketwide sell off continues, AAVE falls thru support
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Zoom IN (15 min) for a closer look Couple of nice "Pings" (exact ricochet and you can almost HEAR) but not enough to hold. Were it not for the market wide downturn, that support might have held. Now trying to crawl back above, would be a good sign to get past 420.
So we wait to see if it goes back into Range or rejects lower.
First a look at progress since this Idea was posted: soon after, we had the BTC dump, which took the entire market with it. Since then the tide has been rising, and AAVE has pierced the 505/506 resistance. Now in consolidation within the new range about 460-500, looking ready to go higher.
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Zoom IN (21 min) and looking for "Pings" (exact ricochets) we see quite a few on the Green fibs (linear series). some on the Blues (parabolic series) as well but more on the greens. So we conclude the green fib/wave is primary control.
Giving the Green fibs priority and looking above: Points to the third resistance originally plotted at 57x. That has the Green 9.618 (as I call the "Murderer of Moves"), in confluence with parabolic fib's 12.705 ratio .
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SUMMARY: - Market wide dip looks to be history now. - New target for this wave is 571-576 zone. - However, break and retest of 506 needed to validate.