🧠 $ENJ Setup (EMA Reversal)
On the daily timeframe, $ENJ showed a strong reversal signal after a large candle that broke through three exponential moving averages (EMA 20, 50, and 100) at once. This rarely happens in a single day, especially with volume surging to 611 million, more than double the daily average—a clear indication of large accumulation by buyers.
The previous $0.085–$0.088 level was a strong base support, and the April 20 candle formed a solid breakout above the EMA20 ($0.096). This condition strengthens the potential for a short-term trend reversal.
🔹 Entry:
- Aggressive entry: ideal at $0.097–$0.101, which is the breakout area of EMA20 and EMA50.
- Confirmation entry: can be done if the price successfully breaks and closes above $0.112 (EMA100), indicating dominant buyers and the possibility of continuing to EMA200.
🎯 Target:
TP1: $0.112 (EMA100 resistance)
TP2: $0.147 (EMA200)
TP3: $0.18+ (psychological resistance)
🛑 Stop Loss:
Placed below $0.087 (EMA20 & minor support), as protection if this breakout fails and the price breaks down again.
📊 Risk-Reward:
- For entry at $0.101 with SL at $0.087 and TP1 $0.112 → RR ~0.8:1
- If TP2 is reached ($0.147), then RR ~3.2:1 → ideal for swing
✅ Additional Confirmation:
- RSI moves up above level 50, indicating momentum is starting to return to buyers.
- The breakout volume is very large → valid accumulation signal.
- Candlestick structure indicates potential V-reversal.
What do you think?..