ENJ/USDT
1D/8H
ENJ has broken out of a symmetrical contracting triangle on the daily having initially rejected off the upper structure within daily supply and creating a falling wedge reversal triangle that created a new higher high and higher low and started a new uptrend. We rejected off the daily supply with a rejection wick on both the 1D and 8H and consolidated below mitigating the sell side pressure above before continuing its upwards move breaking out nicely with little sell side pressure and supporting volume. Momentum on the MADC daily still showing healthy upwards motion as we cross the centrline and volume increases whilst the histogram remains bullish.
Expecting a continuation into the 1.272 fib and into the next level of daily supply where a reaction is expected.
We don’t predict, we react to what the market is showing us.
1D/8H
ENJ has broken out of a symmetrical contracting triangle on the daily having initially rejected off the upper structure within daily supply and creating a falling wedge reversal triangle that created a new higher high and higher low and started a new uptrend. We rejected off the daily supply with a rejection wick on both the 1D and 8H and consolidated below mitigating the sell side pressure above before continuing its upwards move breaking out nicely with little sell side pressure and supporting volume. Momentum on the MADC daily still showing healthy upwards motion as we cross the centrline and volume increases whilst the histogram remains bullish.
Expecting a continuation into the 1.272 fib and into the next level of daily supply where a reaction is expected.
We don’t predict, we react to what the market is showing us.