Closing Long Position on $ENA Before SL Near Entry 📉.
Correction is possible; we will re-enter after some time, but not right now. Let's look at the chart.
There is no clear way for the bulls to continue as the price is consolidating within a Descending Broadening Wedge on the 4-hour chart. After facing rejection from the upper trendline, the price has also failed to hold above the horizontal zone. As we can see on the chart, $ENA has broken down below that red zone, and it looks like a retest has also been completed.
Additionally, on the 15-minute timeframe, we can spot a Bear Flag formation 📉. We can look to scalp a quick short position once the lower trendline of this bearish flag breaks down.
That's the current update on $ENA . I'll post again if I spot anything else!
Correction is possible; we will re-enter after some time, but not right now. Let's look at the chart.
There is no clear way for the bulls to continue as the price is consolidating within a Descending Broadening Wedge on the 4-hour chart. After facing rejection from the upper trendline, the price has also failed to hold above the horizontal zone. As we can see on the chart, $ENA has broken down below that red zone, and it looks like a retest has also been completed.
Additionally, on the 15-minute timeframe, we can spot a Bear Flag formation 📉. We can look to scalp a quick short position once the lower trendline of this bearish flag breaks down.
That's the current update on $ENA . I'll post again if I spot anything else!