ENS is poised for a drop after breaking market structure, with key levels now in play. This short setup is gaining traction, with multiple signals aligning for a potential downtrend.
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๐ด ENS SHORT ๐
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๐ Entry Range: $5.9520 โ $5.9640
๐ Stop Loss: $6.1367 (-3.0%)
๐ฏ TP1: $5.8686 (+1.5%)
๐ TP2: $5.6601 (+5.0%)
โก R/R Ratio: 1:1.7
๐ Confidence: 88%
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The breakdown is confirmed by CHoCH, while CVD and FVG signals suggest volume and fair value are on our side, with an OB adding confluence to this critical zone. Structure-wise, the overlap of OB and FVG creates a compelling short opportunity. POI confluence further reinforces the bearish case.
A 3.0% stop loss seems reasonable given the volatility, suitable for a moderate leverage setup to maximize returns without overexposing the position.
Taking partial profits at TP1 could be a prudent move, allowing us to lock in some gains while still riding the potential wave of a larger downtrend.
Not financial advice โ always manage your own risk ๐
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