On the daily time period chart, the price action of Aave (AAVE) is completing the final leg of bullish Shark and soon it will be entered in the potential reversal zone. At this time price action is breaking down 100 SMA and on on breaking down 200 SMA this move will be confirmed.
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Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Shark pattern should be as below:
Potential reversal or buying zone: 0.002075 to 0.001375 btc
Sell or Fibonacci projection zone: 0.002741 to 0.004201 btc
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Stop Loss:
The potential reversal zone area that is up to 0.001375 btc can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 205% and as per the above-mentioned stop loss, the loss possibility is 33.8%.
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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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