AAVE in price discovery - LONG OPPORTUNITY (UPDATE)

7 feb 2021

Update on AAVE. Congrats if you took profit at the T1 on my last AAVE chart. AAVE had a healthy pullback, but I think their is still gas in the tank. If you look I readjusted the fibs and it retraced from the 1 fib level to the .786 which is a good spot to buy. The RSI is also bottomed out. This is a buy imo. You can wait to see if it goes to the .618 at 357ish but I think that’s unlikely. Also if you look at the declining volume on that move from the top down you can see there’s declining volume on a downtrend which you can interpret as less sellers are selling at declining prices. I set a stop at the bottom of the last wick.


T1 - $545 (R/R : 2.29 )
T2 - $675 (R/R : 5.13 )
T3 - $748 (R/R : 6.62 )