AAVE cryptocurrency - LONG trade. #15

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!

Comment:

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.