Purchase Setup / Buying ENJ (8 Hours)
After a bullish movement and a strong change in character (CH), followed by a rise in the price of ENJ driven by fear of missing out, the price is now approaching support levels. In the areas where strong buyers were previously active, we can look for a buying/holding position.
The origin of this movement is expected to continue, and the price is likely to move towards higher areas.
We are looking for a buying/long position around the demand area.
Targets have been set on the chart.
A daily candle close below the invalidation level will invalidate this analysis.
For risk management, please do not forget to set a stop-loss and manage capital.
When we reach the first target, we take some profits and then move the stop point to the entry point.