Happy Money Monday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
I am not trading this asset but TA on this asset has been requested, so it is my pleasure to present my views on this ENJB/USD pair over on Binance.
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ENJ has now printed a Falling Wedge and coincidentally reaching the 84% Fib.
Further downward push in price will bring ENJ towards the Key Support at 1.194
The next level to watch out for if ENJ continues to drop will be the 100% Fib level at 0.732
If the Green Dashed Support Trend Line holds up then ENJ's job will be to meet up with its 21MA and the Red Resistance Trend Line.
A conservative trader like me would wait for the price to escape the 21MA and the Red Resistance Trend Line prior to entering a long position.
MACD (4Hr TF): Breached 0.2 negating any potential bullish divergence in the immediate time. More downside price action could ensue where ENJ could crawl downwards in this Falling Wedge.
Stoch RSI (1Day TF): Currently at the Oversold Region.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
I am not trading this asset but TA on this asset has been requested, so it is my pleasure to present my views on this ENJB/USD pair over on Binance.
==============================
ENJ has now printed a Falling Wedge and coincidentally reaching the 84% Fib.
Further downward push in price will bring ENJ towards the Key Support at 1.194
The next level to watch out for if ENJ continues to drop will be the 100% Fib level at 0.732
If the Green Dashed Support Trend Line holds up then ENJ's job will be to meet up with its 21MA and the Red Resistance Trend Line.
A conservative trader like me would wait for the price to escape the 21MA and the Red Resistance Trend Line prior to entering a long position.
MACD (4Hr TF): Breached 0.2 negating any potential bullish divergence in the immediate time. More downside price action could ensue where ENJ could crawl downwards in this Falling Wedge.
Stoch RSI (1Day TF): Currently at the Oversold Region.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader