📊 EENS/USDT Perpetual Contract – Daily Timeframe Analysis
🟢 Bullish Setup
A bullish flag is forming on the daily chart — a continuation pattern indicating potential upward movement.
- Price recently entered into the golden pocket of the Fibonacci retracement tool marked from $16.881 – $25.241 on the third touch of the flag's resistance, triggering a fakeout, it now rests in the first Fair Value Gap.
- The strong wick rejection on the 3rd retest of the resistance/supply indicates bearish strength, momentarily pushing price lower.
- Despite this, the overall pattern remains valid as long as price respects the Golden Pocket and FVG zone below.
✅ If price closes above the golden pocket, it could present an excellent leveraged entry or spot position, with high reward potential off 67%.
🔴 Bearish Scenario
- So far, every test of the **4H supply zone** has resulted in rejection — showing persistent seller control at short-term resistance.
- If buyers fail to defend the golden pocket and recover the bullish trendline, the structure confirms a break. (Downtrend)
The confirmation of bearish pressure is the:
1) Large wick (Creating a shooting start candle pattern)
- Signaling bearish reversal.
2) Large Bearish Marubozu Candle.
- Indicates strong continuation of a downtrend.
3) Candle close below Trend line support.
- Showing Bears were able to successful make a major move.
🔽 In that case, we look to short after FVG confirmation and scalp down toward the daily demand zone.
📌 Patience is key. Let the price show intent before entering.
Please let me know what your thoughts are!
🟢 Bullish Setup
A bullish flag is forming on the daily chart — a continuation pattern indicating potential upward movement.
- Price recently entered into the golden pocket of the Fibonacci retracement tool marked from $16.881 – $25.241 on the third touch of the flag's resistance, triggering a fakeout, it now rests in the first Fair Value Gap.
- The strong wick rejection on the 3rd retest of the resistance/supply indicates bearish strength, momentarily pushing price lower.
- Despite this, the overall pattern remains valid as long as price respects the Golden Pocket and FVG zone below.
✅ If price closes above the golden pocket, it could present an excellent leveraged entry or spot position, with high reward potential off 67%.
🔴 Bearish Scenario
- So far, every test of the **4H supply zone** has resulted in rejection — showing persistent seller control at short-term resistance.
- If buyers fail to defend the golden pocket and recover the bullish trendline, the structure confirms a break. (Downtrend)
The confirmation of bearish pressure is the:
1) Large wick (Creating a shooting start candle pattern)
- Signaling bearish reversal.
2) Large Bearish Marubozu Candle.
- Indicates strong continuation of a downtrend.
3) Candle close below Trend line support.
- Showing Bears were able to successful make a major move.
🔽 In that case, we look to short after FVG confirmation and scalp down toward the daily demand zone.
📌 Patience is key. Let the price show intent before entering.
Please let me know what your thoughts are!
Trade active
As stated - price broke below performing a fake out and rejecting perfectly off the golden pocket allowing an excellent entry.
Trade closed: target reached
ENS is looking real solid. While the market was dumping, ENS held a support on the FVG zone, while making a good recovery.
We have had a partial trade hit 11% in profits, this is great, however it will become invalid if it falls below the previous Swing low.
Note
We have a confirmed fake out, price has successfully respected the FVG zone and broke away from it.
We are now testing the previous high - if it can break through the next test is the 4HR supply and the next swing high which was a liquidity sweep.
HODL boys!
Note
Ignore the above note - that was for a different trade. ENS IS holding strong, with it sitting on our entry again, we are seeing strong support.
If we can break a previous high - it will be worth entering again to increase profits.
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.
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.