$ENA Long Position Analysis
Position: Long $ENA
Liquidation Details: $1.3455K at $0.5369
Entry: $0.5369
Target: $0.6000
Stop Loss: $0.5200
Entry: The price at which the long position is initiated, set at $0.5369.
Target: The price level aimed for profit realization, set at $0.6000, which represents a potential resistance zone.
Stop Loss: The level set to minimize potential losses, positioned at $0.5200, below recent supportive levels.
Risk-Reward Ratio Calculation:
Potential Gain = Target - Entry = $0.6000 - $0.5369 = $0.0631
Potential Loss = Entry - Stop Loss = $0.5369 - $0.5200 = $0.0169
Risk-Reward Ratio = Potential Gain / Potential Loss
= $0.0631 / $0.0169 ≈ 3.74
This analysis highlights a favorable risk-reward ratio of approximately 3.74, indicating that for every dollar risked, there is a potential gain of $3.74. Investors should closely monitor market conditions surrounding $ENA to make informed decisions.