BUY AAVE
May 30/31, 2022
Quick Intro
Who doesn’t love making money? Especially if you can do it from the comfort or your own home? I love to share with others on how to do the same kind of things. I started off investing in stocks years ago. Somewhere along that journey, I delved into crypto currencies and was investing in Bitcoin, Litecoin, and later Ethereum. I didn’t even know about the other cryptocurrencies out there until much later. In the following years, I studied about forex and started trading foreign currencies. I never quite mastered it but came close in recent years.
Last year, I joined a group that trades stocks, options, and cryptocurrencies. One of the best decisions I ever made. I was chosen to lead a team that focused on the Polygon ecosystem. And that’s all she wrote.
Every week, I intend to share my thoughts about a particular coin or coins that we are looking at for a possible entry. I implore you to do your own due diligence and research but with this report, I hope that it helps you with your trading and investing endeavors.
Now Buckle Up!
You are about to get a somewhat crash course as you look at these coins through my eyes for the first time in your life. I am not necessarily a technical or a fundamental trader, but I do like technicals and I will look at fundamentals too to assist with my trading decision. Please keep in mind, I am NOT STATING THAT YOU SHOULD GET INTO ANY COIN AT THIS MOMENT OR EVER. This is not financial advice.
My #1 Pick Today (5.30.2022)
If you are a day/momentum trader: Keep an eye on AAVE. It is my #1 pick for today and tomorrow (May 31). Just today alone it moved almost 30%. Now it has to pullback so expect that, but it can still find some support and continue to push up so don’t rule it out.
What is AAVE?
Well, if you are a Polygon trader, AAVE should be in your portfolio and watchlists anyway in my opinion. AAVE is a Polygon heavy hitter along with Matic and Chainlink.
AAVE is a decentralized lending and staking platform where you can essentially BYOB. No, not bring your own bottle, but Be Your Own Bank. You can do it across various ecosystems such as Ethereum and Avalanche but my go to is always, always the Polygon ecosystem. Very inexpensive gas fees. But hey, I might just be biased.
Technicals
So, let’s look at a few technicals (This is a snapshot from 1050pm CST on 5.30.2022):
Right now, AAVE is currently finding support on the 7 EMA. During the trading day yesterday (Monday 5/30/2022 until 659pm CST), AAVE was pretty bullish as stated above. We are looking for it to correct and find support around $111.75 to $108.45. The RSI is indicating overbought as it is well over 70. The RSI actually got as high as 86 sometime around or after 6pm CST which is right at the end of the trading day technically.
Now, if you get in the trade for a buy and it continues going south, a good stop loss level should be around $105. I must give credit to another one of my trading buddies for helping me look at the coin this way and finding the key levels of support. The 20 day EMA is around this area as well as a support level I had plotted from a higher time frame. This should be a good level for another bullish run-up sometime during the trading day Tuesday, May 31, 2022.
Get in and get out your trade today. This is not necessarily a long term swing. This is a day/momentum trade based off the bullish activity we are anticipating for May 31, 2022.We cannot predict the range of the bullish activity. Set targets and goals BEFORE you get into the trade. This is in reference to entries AND exits.
Conclusion and Gift(s)
That’s it for today.
I talked briefly about the amazing trading group I’m in. If you are interested, send me a message here so we can speak directly. It is a private trading group and I would like to make sure we can help achieve you reach your goals. It is not a get rich quick, fly by night project. It is well worth your time however.
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They have a wheel of fortune where you can spin to win satoshis, a whole bitcoin, and other gifts daily. You also can get discounted gift cards using your Fold card. It is a win win and no cost to you. If you don’t have it, sign up using my link above.
Happy Trading on this last day of May 2022.
