AVAXShort
AVAX Trap or Consolidation?
As a fairly new currency, I am currently waiting if 118.57 will act as a good support but candle wise, I can see AVAX correcting down to 108. Should 108 break, I will be re-entering for another shorting down to 97 but should that break, expect to consolidate for as low as 50+ USD.
My overall impression is that it will still go for a bull run but should consolidate first for formation of solid support.
Summary:
1st Entry: 136
1st TP: 108-110
2nd Entry: 108-118
2nd TP: 97
3rd Entry: 97-108
3rd TP: 66.7 (Derived from 0.5 of Gannbox)
Stop Loss: 150
This is my trading setup, do your own analysis. All values were estimated using Fib retracement and Darvas’s box but were removed for presentation purposes.
I am not a guru nor have a degree in Finance. I am a self-taught medical student and would very much like to find a mentor to further enhance my skills. Thank you.
My overall impression is that it will still go for a bull run but should consolidate first for formation of solid support.
Summary:
1st Entry: 136
1st TP: 108-110
2nd Entry: 108-118
2nd TP: 97
3rd Entry: 97-108
3rd TP: 66.7 (Derived from 0.5 of Gannbox)
Stop Loss: 150
This is my trading setup, do your own analysis. All values were estimated using Fib retracement and Darvas’s box but were removed for presentation purposes.
I am not a guru nor have a degree in Finance. I am a self-taught medical student and would very much like to find a mentor to further enhance my skills. Thank you.
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