It looks like tracking the $ENA /USDT pair closely and have set up a solid trading plan. Here's a quick breakdown of your strategy:
Entry Point: $1.282
Target 1: $1.340
Target 2: $1.400
Stop Loss: $1.240
The setup suggests you're aiming to capitalize on a breakout supported by volume, with an ascending channel indicating bullish momentum. Here's how to refine your trade:
1. Risk Management: Keep your position size appropriate to avoid overexposure. The risk-to-reward ratio (RRR) looks favorable based on your targets.
2. Monitor Volume: Sustained high volume can validate the breakout; declining volume might signal a potential reversal.
3. Trailing Stop Loss: Consider adjusting your stop loss as the price approaches your targets to lock in profits.
4. News Updates: Keep an eye on market-moving news like Binance updates or Bitcoin hash rate changes that could impact the market sentiment.