AAVE/USDT 4h (Binance Futures) Rising wedge breakdown
Updated
Aave seems to have broken down that rising wedge and could retrace down further!
Since it's under 50MA and volume is decreasing, it looks like a good timing.
That could be risky but since I am over exposed long it is wise to hedge...
Current Price= 65.715
Buy Entry= 65.700 - 70.500
Take Profit= 53.201 | 46.378 | 40.432
Stop Loss= 78.060
Risk/Reward= 1:1.5 | 1:2.18 | 12.78
Expected Profit= +21.88% | +31.90% | +40.63%
Possible Loss= -14.63%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 240h
Since it's under 50MA and volume is decreasing, it looks like a good timing.
That could be risky but since I am over exposed long it is wise to hedge...
Current Price= 65.715
Buy Entry= 65.700 - 70.500
Take Profit= 53.201 | 46.378 | 40.432
Stop Loss= 78.060
Risk/Reward= 1:1.5 | 1:2.18 | 12.78
Expected Profit= +21.88% | +31.90% | +40.63%
Possible Loss= -14.63%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 240h
Trade closed: target reached
TP1 reached with +20.40% (1x)It was a wise set-up indeed for Aave, second target was missed by 0.965$ then bounced back, SL at BE now.
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