Just saw: $ENA broke below the MA50 on the daily chart (0.197), down 3.44% over 24 hours.
People often ask what moving averages mean, so here’s how I see it.
The slope of the moving average itself is also worth watching: a price moving above it while it’s still trending downward means something different from moving above it after it has flattened out.
Many people wait for a pullback that holds above the moving average to confirm a breakout, and treat a breakdown as real only when the price bounces but fails to get back above it.
Sizing your position based on where you place your stop-loss is much more reliable than going by gut feel.
#ENA
People often ask what moving averages mean, so here’s how I see it.
The slope of the moving average itself is also worth watching: a price moving above it while it’s still trending downward means something different from moving above it after it has flattened out.
Many people wait for a pullback that holds above the moving average to confirm a breakout, and treat a breakdown as real only when the price bounces but fails to get back above it.
Sizing your position based on where you place your stop-loss is much more reliable than going by gut feel.
#ENA