Reasons for the ENA Trade 🚀
1️⃣ EMA Alignment & Expansion – All EMAs are bullishly aligned and fanning out, signaling strong momentum and trend continuation.
2️⃣ EMA Golden Cross – A classic bullish signal where the shorter-term EMA crosses above the longer-term EMA, confirming upward strength.
3️⃣ Multiple Support Reclaims – ENA has successfully reclaimed 4 major support levels since the recent low:
3 horizontal levels
1 macro trendline from the ENA all-time low (ATL) on Sept 5th
4️⃣ Consistent Higher Lows & Highs – The market structure is firmly bullish with 3 consecutive higher lows & higher highs, indicating continued strength.
5️⃣ Strong Demand Zones –
First demand zone at the initial entry point (0.4175)
Second demand zone at the DCA level (0.3828)
6️⃣ Stop Loss (SL) Positioned Safely – Even the compounding trade has an SL below all 4 support levels and both demand zones, reducing downside risk.
📉 What Needs to Happen for This Trade to Invalidate?
For ENA to break down, it would need to:
Clear both demand zones
Break back below all 4 support levels
Lose the new trendline from the lows
Form a CHoCH (Change of Character) by printing a lower low
Conclusion:
The trade is highly structured with confluence, and the risk is well-managed with an SL below all key levels. Bulls remain in control unless a major breakdown occurs.
1️⃣ EMA Alignment & Expansion – All EMAs are bullishly aligned and fanning out, signaling strong momentum and trend continuation.
2️⃣ EMA Golden Cross – A classic bullish signal where the shorter-term EMA crosses above the longer-term EMA, confirming upward strength.
3️⃣ Multiple Support Reclaims – ENA has successfully reclaimed 4 major support levels since the recent low:
3 horizontal levels
1 macro trendline from the ENA all-time low (ATL) on Sept 5th
4️⃣ Consistent Higher Lows & Highs – The market structure is firmly bullish with 3 consecutive higher lows & higher highs, indicating continued strength.
5️⃣ Strong Demand Zones –
First demand zone at the initial entry point (0.4175)
Second demand zone at the DCA level (0.3828)
6️⃣ Stop Loss (SL) Positioned Safely – Even the compounding trade has an SL below all 4 support levels and both demand zones, reducing downside risk.
📉 What Needs to Happen for This Trade to Invalidate?
For ENA to break down, it would need to:
Clear both demand zones
Break back below all 4 support levels
Lose the new trendline from the lows
Form a CHoCH (Change of Character) by printing a lower low
Conclusion:
The trade is highly structured with confluence, and the risk is well-managed with an SL below all key levels. Bulls remain in control unless a major breakdown occurs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.