It may depend heavily on how BTC performs, but im feeling pretty bearish on ENJ as it stands.
As the title states, ENJ rejected off the resistance almost perfectly while simultaneously reaching the top of its range; on the dot, i might add.
Personally im looking for short entries on ENJ. But as always.. time will tell.
If this continues to sit sideways and isnt...
Playfield for now seems to me to be the following with long-term on daily chart and medium-term on 4h-chart.
Looking to BUY depending on how it reacts to the trendlines in 4h chart.
Will not bother to SELL to 0.25 support - but will be looking to BUY at that level if it is reached.
Support @ 0.500; 0.250
Resistance @ 0.605;...
ENJUSD (4H Timeframe)
Waiting for the downward break of 0.5450 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 0.6150 would cancel the bearish scenario.
Stop loss: 0.6150
Take profit 1: 0.5040
Take profit 2: 0.4360
Strategy: Bearish reversal
ENJ and many altcoins was recently oversold in our RSI and hit Trendline Support. I think this is a high possibility to bounce in this area and hit TP before squeezing its way to what ever direction. Trade Safely.
The following content is machine translation:
The 4-hour chart stopped falling and rebounded near the support of 1.5 before stepping back.
Form a double support.
See near 1.8 in the short-term.
A break below the 1.465 stop loss.
This is similar to the other ones I posted today. However, for ENJ, we are seeing very high momentum. There is a higher probability that the price will go beyond the 1.93 level that I've given. There is sufficient momentum in this way to take us to $1.93 price level. I expect the $1.70 price level to hold. If it breaks $1.64 level, that could change the dynamics...
Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
If the wave count is correct, ENJ should be working on the last impulse wave (5) of this current cycle. It's wave (3) on a larger cycle.
ENJUSD Short/Midterm Swing Projection
TRR: Trading Range Resistance, TRM: Trading Range Midpoint, TRS: Trading Range Support
Preliminary Entry: My Original Entry Point (Prior to any DCA/Average Down Action)
TP Limit Sell Range: Estimated Target Zone for Limit Sell/Profit Taking
Invalid: Estimated Stop Zone & Trade Invalidation Range
*Not Financial Advice, DYOR
Today I'm posting not just an individualized idea but an idea that combines multiple coins. As you all know from my recent posts, I expect BTC /ETH to experience a short-term wave down. I worked extra hard tonight to find a basket of coins that could yield us the > 3% per day that I'm going for. These coins follow the momentum trend inversion calculations and...