Spot trading plan tracking - ENS1. Weekly level
ENS forms a potential arc bottom pattern at the weekly level. It is currently testing the neckline resistance area of 27.65-30.5 US dollars. After breaking through the new high since the beginning of 2022 two weeks ago, it fell back. It is necessary to pay attention to whether the closing price in the future market can stand on the neckline area and effectively break through.
2. Daily level
The daily level shows that ENS runs along the rising trend line. Last week, it rebounded strongly after receiving support near the trend line of 20 US dollars. Yesterday's daily closing formed a shooting star pattern with an upper shadow line. It is expected to pull back first and then rise in the near future.
3. Four-hour level
The potential support below the four-hour level refers to the Fibonacci 61.8% and Vegas channel resonance support positions at around 25-25.5 US dollars.
4. Hourly level
The hourly MACD dead cross opens downward for the second time, showing the need for continued correction and repair. Technical analysis theory shows that this situation often accelerates the bottoming out to form oversold, followed by a rebound. Therefore, the first batch of purchases can be made around $25-25.5, and the stop-profit target is set around $30.5 and $37.
Backup plan
If the price touches the daily rising trend line around $21.5-22.5 in the future, you can continue to buy.
Trading strategy summary:
First batch of purchases: around $25-25.5 Stop-profit target: around $30.5 and $37 Backup purchase plan: around $21.5-22.5
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