ENJUSD trade ideas
ENJ - technical buying opDecent TA setup buy on ENJ here. Price just broke over the pivot line indicating bullish short term sentiment. The adx (blue) line on the directional indicator just crossed over the DI- (red) line from below and is trending higher with the DI+ (green) line on top trending higher as well. This is a perfect look on the directional indicator for a buy signal. Also a bullish cross on the MACD signal line right at the zero line is also in perfect position for a buy signal. Looking for price to rise too resistance at .18 in the short term. Will evaluate for a hold or sell at that level.
ENJIN COIN (ENJ/USD) - Buy After The Breakout!On the Daily timeframe, the price has drawn a bullish continuation pattern called Falling Wedge.
The continuation pattern is valid and active after the breakout. So, wait for a breakout confirmation on the Daily chart and the wait until the Daily candle gets a close above the pattern upper trendline.
The target is pretty high, probably you should considering take out some partial profits on the next strongest resistance levels but the pattern target is around $0.4
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ENJ two long entriesI see a potential triangle forming, which is ultra rare in wave 2, so likely an extended 3rd wave in a possible extended 1st in a cycle 3. Confusing AF? YEAH! Trying to label to corrective bear market structure was x10000 more confusing.
Anyways. I would love to catch a long on one more dip. Big gains yo. You can start with a small position so you an have a wide ass stop and if it proves itself just start firing your long cannons into it as it goes up. Or if BTC gets all wild and drags it up to invalidate the triangle you can long the higher green box with a stop. I'm not as interested in that setup because there's so much more to trade but just letting you know that I see that too.
I'll make a thread and update it with intra-day trades as it develops. ***in comments***
Enjin Repeating Fractal - another 100% ? After a month of ENJ going nearly 10x from its bottom in late February, it has had the chance to consolidate to the 50% fib retracement zone. Which in doing so, it has created drastic similarities to the consolidation wave after its first leg up.
Therefore it seems it could be repeating the same pattern once again, only this time on a larger scale.
Looking at the chart, we are currently in the center of a key support zone. This support zone was created using replicated fib levels from the prior wave. Meaning that if this level holds, there is a very solid chance ENJ will bounce to the Target 1 resistance zone, consolidate and then make its way to the second target.
I wish you all the best of luck this alt season!
Cheers!
Notes:
The current support zone MUST hold for the fractal to hold true
Generally alts follow Bitcoin, and BTC is currently riding thin support.
Enjin (ENJ) - The case to remain a holderTo continue my reputation as a bonafide ENJ shill, and a TA junkie, here's a chart. :)
It would be pretty risky to buy ENJ here, but this is the case to not sell if you're already a holder.
First of all, on the psychology front, Enjin has had a big hype cycle that concluded Friday at the end of a very successful GDC. This would be the perfect spot to sell the news, and there was a small dip. But volume stayed very light and reversed (so far) quickly.
Second, we have 4 clear waves in place - surge, consolidate, surge, and current consolidation. 5 is typical, and I'm looking out for a final sharp surge.
We did have a perfect 50% retracement (logarithmic chart) of the top to bottom move, which is healthy.
All moving average are in their proper place, and the 13 day average, which serves as support in strong trends, is so far doing just that.
Finally, we have an unconfirmed bullish symmetrical triangle forming. This could break down into a trading range, or some other standard pattern, but it's what I'm watching until proven to be something different.
Standard measuring techniques would imply a final move to the 40 cent range, but 5 waves are often the strongest... ath is at 50 cents, I don't think it's impossible at all.
anyway... here's the chart. It's a thing of beauty.
Current Enjin Coin bull run will peak at $1 near March 25Disclaimer: I am completely new to trading and this is just for fun and learning.
I have read that bitcoin follows a 4-year bull run cycle, and the patterns in price movement repeat for every run: Enjin Coin may have its own bull run cycle. Enjin Coin's recent abrupt volume peak and price movement closely resembles the beginning of Enjin Coin's previous bull run. If this pattern continues, some basic number crunching shows me that the current bull run may peak at $1 near March 25th. What do you guys think?
#ENJ/USD $ENJ Enjin Coin - weekly LONG idea#ENJ/USD $ENJ - weekly LONG idea
Range .021 - .078
testing resistance at .035
low volume possibly increasing
VOL ATR - LONG
RSI/MACD normal, momentum buy side bias
LONG
next test resistance ~ .054
support at .021
If my charts are helping, please consider using my binance referral link to trade $ENJ
thank you, and trade responsibly - this my idea not financial advice
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ENJ trying to make a market counter trend stand.My pet alt, ENJ, is trying to buck the day's trend and make a stand tonight. For only the 3rd time since May18, it's testing just above the 150 day moving average. This time, for the first time in that timeframe, it's doing it off of an established higher low.
at 4.4 right now, 5.4 is confirmation of trend change. Basically it's trading at its late 2017 USD ico price, which isn't so bad, I suppose, given what has taken place between then and now.
My bags are full, so not buying. But patiently holding, watching. Interested and then some.
THE LITTLE ENJIN THAT COULDHere I am again buying undervalued coins!! ENJ is creeping down towards 5c, I picked up some around 5.8 since I am bullish on Bitcoin. I think when Bitcoin boosts up , 10c and 15c levels will be reached almost instantly. I really don't want to miss that. This is a super legit project already being used to combat item fraud in video games and they have a great wallet also! Great time to accumulate and HODL long term! I THINK I CAN I THINK I CAN!!