So this trade is going rather well. My TP is actually 380, but I will be keeping watch of the weekly level at around 348 to see the reaction. it may be worth TP'ing 50% profit there if it won't break through. My Stop Loss is now 314, representing a 1% account balance increase if I get stopped out. Great trade so far.
Taking advantage of the btc dump off this morning to take a long on AAVE at the key daily level, stop loss under it at 300 just to be safe, and target is around what you see on the chart, weekly level there.
After yesterday's dump, many coins are at support right now. Bitcoin's behaviour will determine a lot of things, and will decide whether alts go up or down. However, AAVE is offering a risk/reward of 4 here, which means we can be wrong up to 80% of the time to make a profit on this setup.
Target 1 : 480 $
Target 2 : 522 $
Note Discalimer : In this price movement is Bullish Tren, AAVE make a chart pattern falling wedge, my analyst prediction going to secret fibonacci range 1.272 to 1.618. I think its possible to 500+ USD
i think just like btc and eth, aave is primed for a rip to the upside in the days ahead.
after a clean 5 wave move up, it's retracing wonderfully and algorithmically.
once this wave C is in between 393~387, i anticipate a wave 3 impulse which should take it to 478 in the week ahead.
wave 2 target = 387
wave 3 target = 487
SHORT: 329 - 354
2) Trail stop – let it run
STOP: When a 4h candle closes above 399
-The 100 and 200 EMA have acted as strong support for the duration of the uptrend.
-More recently, price has been respecting two diagonal trendlines
-Price broke out of the upper trendline and retested the EMAs. The EMAs were unable to hold so price...