The peak hit late September, on the 23rd, led to a small retrace. This retrace ended 4-November and was followed by a quick bounce. This bounce produced a higher high. I am calling this higher high weak because trading volume is really low compared to early September and late August and also because it reached only ~10% higher compared to the last high.
This price dynamic can be interpreted in two ways. (1) The up-move is not over and AAVEUSDT will continue to grow. (2) The pull-back is over and a drop comes next.
Both can be traded with a tight stop-loss.
Full trade-numbers below:
___
SHORT AAVEUSDT
Leverage: 5X
Entry levels:
1) $200
2) $185
Targets:
1) $175
2) $165
3) $155
4) $145
5) $135
6) $122
7) $117
Stop-loss:
Adjust to your own risk tolerance
Potential profits:192%
Capital allocation: 3%
____
Remember to do your own research and planning before trading.
This is not financial advice.
Thanks a lot for your support.
I am wishing you health, wealth, profits and good luck.
Namaste.