Hello fellow traders...
As promised, here is an update on our beloved Enigma. Our last swing in this trade was great. We've yet to start an impulse per Elliot Wave Analysis--falling just short of reaching 100% of a potential 3rd wave. Thus, we have not discredited a bullish count just yet, but nonetheless, we are affected by our BTC spread.
Stoch RSI is supporting bullish divergence, and unlike some of our other alts we are seeing buyers come in to keep the price up. If BTC bounces just slightly, we should see Enigma do a nice little pop. Whether we retrace slightly more or not, I will for sure be adding to a long position at any signs of a technical pivot, as other traders are also definitely watching this asset. In particular, smart money.
If I was first looking at this asset, risk/reward would not justify opening a long position here. I would sit on this swing just a little bit longer, unafraid of missing a trade. Diagonals are a tricky beast, and unless one is playing with profit from other trades or house money with ENG, sometimes the better trade is no trade.
This is for education only. Traders have targets which change on the fly. That is the nature of the beast. Without risk there is no reward. Trade smart everyone.
--longmoney
As promised, here is an update on our beloved Enigma. Our last swing in this trade was great. We've yet to start an impulse per Elliot Wave Analysis--falling just short of reaching 100% of a potential 3rd wave. Thus, we have not discredited a bullish count just yet, but nonetheless, we are affected by our BTC spread.
Stoch RSI is supporting bullish divergence, and unlike some of our other alts we are seeing buyers come in to keep the price up. If BTC bounces just slightly, we should see Enigma do a nice little pop. Whether we retrace slightly more or not, I will for sure be adding to a long position at any signs of a technical pivot, as other traders are also definitely watching this asset. In particular, smart money.
If I was first looking at this asset, risk/reward would not justify opening a long position here. I would sit on this swing just a little bit longer, unafraid of missing a trade. Diagonals are a tricky beast, and unless one is playing with profit from other trades or house money with ENG, sometimes the better trade is no trade.
This is for education only. Traders have targets which change on the fly. That is the nature of the beast. Without risk there is no reward. Trade smart everyone.
--longmoney
Comment:
A partial? Not just yet. I can risk a stop ;-)
Comment:
Just playing with my ENG chart :-)
Comment:
Good pump everyone. Good trade ;-)
Trade closed manually:
Exited trade near my upper alarm hit. Let's be very careful with ENG. Not liking where we stand. Could be an expanded flat, confluence on previous swing 50 retrace. Preliminary idea
Comment:
Bulls struggling to stay above that pivot. Will be posted new ENG soon. Take care folks.
Comment:
I will be working on updates to ENG. Let's see how much they want to push this down ;-)
Comment:
Not biting. New ENG coming soon...
Comment:
Glad I was out. No more updates on this post. Be on the lookout for new one ;-)
Comment:
Coming soon... Secrets lol
Trade closed manually:
Always have multiple counts. Enigma is tricky chart. Money management everyone.
Comment:
Coming soon ;-) Closing this post out