From the higher timeframe, ENA is still trading within a broader bearish structure.
The recent bounce is a reaction from support, not a confirmed trend reversal yet.
On the Daily, price is still respecting the descending trendline.
At this moment, there is no valid long trigger.
What I want to see next:
Price needs to print a high and then reclaim the key resistance level, turning it into support.
That R/S flip is required to confirm a potential structure shift.
Until that reclaim happens, this remains a patience trade.
No reclaim, no confirmation = no trade.
Let price do the work first.
Are you waiting for the reclaim or staying sidelined for now?
MrC
The recent bounce is a reaction from support, not a confirmed trend reversal yet.
On the Daily, price is still respecting the descending trendline.
At this moment, there is no valid long trigger.
What I want to see next:
Price needs to print a high and then reclaim the key resistance level, turning it into support.
That R/S flip is required to confirm a potential structure shift.
Until that reclaim happens, this remains a patience trade.
No reclaim, no confirmation = no trade.
Let price do the work first.
Are you waiting for the reclaim or staying sidelined for now?
MrC
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.