Yesterday's Trend Review

Yesterday, the price tried to break through 1.1100 several times but was blocked, and then there was a correction, indicating strong resistance above and significant short pressure. The daily K-line closed with a long upper shadow, verifying the existence of market selling pressure.


Short-term trend (hourly and 4-hour charts)

  • ENA has recently pulled back sharply from its high of 1.3285, and its current price is hovering in the 1.0700-1.0800 range, showing the characteristics of a volatile adjustment.

  • MA7 (short-term moving average) turned downward, and the price failed to effectively break through the moving average for many times, indicating that bearish sentiment dominates in the short term.

  • MA30 (medium-term moving average) and MA100 (long-term moving average) are gradually converging, indicating that the market is finding direction, but the overall trend is weak.

Technical indicators

  • MACD: Running below the 0 axis, DIF and DEA continue to decline, but the green column is shortened, indicating that the short momentum has weakened.

  • Bollinger Bands: The middle track of the Bollinger Bands is around 1.1000, and the current price is in the lower track area of ​​the Bollinger Bands. There may be a need for correction in the short term, but the rebound space is limited.

  • KDJ: The indicator forms a golden cross at a low level, but the signal is weak and fails to effectively drive prices upward.

  • Support and resistance levels:

    • The first support level: 1.0550 (short-term low, combined with the lower support of the 4-hour chart).

    • Second support level: 1.0300 (psychological support level).

    • The first resistance level: 1.1100 (near MA30).

    • The second resistance level: 1.1350 (previous trading concentration area).

Today's operation suggestions

Short selling strategy

  • Entry range: 1.0800-1.0850

  • First take profit level: 1.0550

  • Second stop profit level: 1.0300

  • Stop loss: 1.1100

Long Strategy

  • Entry range: 1.0550-1.0600

  • First take profit level: 1.0850

  • Second stop profit level: 1.1100

  • Stop loss: 1.0450

Market direction: The overall trend of ENA is still bearish. In the short term, short selling on rallies can continue, and attention should be paid to short opportunities in the 1.0800-1.0850 range.

Operation Notes:

Mainly short positions, pay attention to whether 1.0550 is effective support.

When going long on a rebound, you need to strictly control your position and set the stop loss within a reasonable range.

Insight into the market rhythm is the beginning of controlling wealth! Follow Lao Tan closely, plan ahead, and let the next peak belong to your account! Follow Lao Tan and never let the opportunity slip away!
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