Weekly Outlook on $ENA – Opportunities & Effective Trading Strategies
The overall trend for $ENA remains bearish, despite strong efforts from buyers to push the price back up to the $0.49 level. This resistance is crucial—if it holds, it will reinforce the bearish momentum and open the door for further declines.
What’s the Best Trading Strategy Right Now?
• Short at the $0.49 Resistance Level: This is a strong entry point for a short position, with a target set at the most recent low. You can enter immediately if you notice signs of weakness from buyers, but a safer approach would be to wait for a clear confirmation signal.
• DCA at $0.49: If you already have a short position, this level provides a good opportunity to add to your position with a controlled risk.
One critical factor to consider is that $ENA is currently trading near a strong support zone, where significant buying pressure could emerge. This means that while the bearish trend dominates, traders should be cautious of sudden reversals.
Risk Management – The Key to Long-Term Success
• Control Your Emotions: Don’t let market fluctuations dictate your decisions. Stay disciplined and stick to your plan.
• Manage Your Position Wisely: Utilize tools like Take Profit (TP), Stop Loss (STL), and Trailing Stop to protect your gains and minimize risk.
• Set Stop Loss Strategically: Place your Stop Loss just above the most recent liquidity sweep to avoid being “trapped” by market movements.
• Take Profit Smartly: Set your TP at the nearest low or at a level where you feel comfortable taking profits. However, avoid setting it too far below the previous low, as this area might attract strong buying interest.
Prepare yourself mentally, stick to your strategy, and take full advantage of the opportunities that $ENA presents.
Wishing you successful trades!$ENA
