Pretty Sure AAVE is CorrectingThere has been a lot of talk about AAVE heading to the moon, and that analysis may be justified. However, it sure looks to me like it's going to hit the skids before blast off. As much as we love to see altcoins shoot up and wish those days were upon us, you have to respect the chart, whether we like what it's telling us or not. besides, don't you love it when it rains?
I'm sure you'll all agree, that this week has been a real bitch. Finding a good set up has been difficult to say the least, and even when you find one it's like watching grass grow in Yellowstone National Park in the dead of winter.
From the day trader's viewpoint the market goes against you a bit, then goes with you a bit, ultimately resulting in going nowhere on shorter time frames. But, when in doubt...zoom out. It might be imperceptibly slow and mercilessly, nauseatingly, and maddeningly testing your patience. But therein lies the rub.
Patience is an absolute must in market situations such as we now find ourselves. This needs to be the rule. No matter how difficult it is to sit there and watch nothing happen, you need to shut up and watch nothing happen for as long as it takes for something to happen. The next hard and fast rule for this type of market is LOW LEVERAGE. It's like cooking ribs. Low and slow baby...low and slow.
So what do we have? If your trading on a daily basis, the lack of action will frustrate you and drive you crazy, fostering decisions fueled by emotion causing you to try and make the market move the way you want it to. BIG MISTAKE. Don't do it. Take a cold shower instead.
Oh, and short AAVE...it's going to go down, and up, and down, and up and down...but ultimately it's going down. For a minute anyway.
Of course this is NOT financial advice. I'm wrong way more often then I'm right. So, if you take my blathering's as financial advice, you will no doubt lose just like me, which is also not financial advice...it's like a dog chasing it's tail, isn't it?
Also, if you're allergic to trading, stop trading immediately and call your doctor. Some people have reported that when they trade they have experienced shortness of breath, high blood pressure, and certain cancers. If you have heart failure when trading, call your doctor. In certain, but few instances, trading has been known to ruin people's lives and in extreme situations caused death. If you experience death when trading, stop trading and call your doctor.
Hey, the disclosures are not my fault...blame the lawyers.
