The use of the pitchfork, FIB retracement tool, and Phoenix Ascending indicator suggest $200 as a reasonable long entry and $229 as a reasonable take profit target.
The red dotted line indicates the possible trajectory of the red stochastic relative strength index (sRSI). The black dotted line indicates the possible trajectory of the AAVE price.
This is not financial advice. I am not your financial advisor. This is my opinion.
The red dotted line indicates the possible trajectory of the red stochastic relative strength index (sRSI). The black dotted line indicates the possible trajectory of the AAVE price.
This is not financial advice. I am not your financial advisor. This is my opinion.
Comment:
This is to be considered as a median reversion trade as the take profit target falls on the median line of the pitchfork.
Trade closed: target reached:
Open: $209.47
Close: $230.00
P/L: +9.89%
Close: $230.00
P/L: +9.89%
Comment:
It looks like AAVE has more room to run to the upside, which means I need to jump back into it with another long entry.
Long entry: $245.83
Take profit target: $271.95
Long entry: $245.83
Take profit target: $271.95
Trade closed manually:
Open: $245.83
Close: $252.00
P/L %: +2.51%
Close: $252.00
P/L %: +2.51%