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N0ST0PL0SS
Apr 8, 2021 12:58 AM

ENJIN COIN// When to go long 

Enjin Coin / TetherUSBinance

Description

Everything is pumping but you're losing money huh?
Picking the right direction and the right trade are two different things.

Looking at ENJ currently price has formed an inverse descending triangle breaking the resistance which held for a few days.

What to do in this situation? Wait for price to retest and hold support on this level.
I.E Print atleast 3 candles above this zone with atleast one of them being a reversal candle.

Keep in mind we also need to pay attention to the price action on BTC.

First Target will be the previous top.

Comment

Took the principal out and letting the profit run...looking at add on to the position once the price action shows the opportunity.

Comment

Comments
PlatanoinaPorsche
On which time frame the 3 candles?
N0ST0PL0SS
@PlatanoinaPorsche, This part is a bit subjective. I usually look at the 15/30/1H candles. For this trade the best option IMO would have been the 1H.
romqe
Perfecto , noted!
hadsern80768
I learned a thing, Thank you
N0ST0PL0SS
@hadsern80768, Glad I could help!
AlphaBravoCharlie77
Wise.
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