【$ENJ Signal】Short squeeze retracement, sniper for secondary push

$ENJ 1H timeframe surges then retraces, RSI drops from 85 high to 71.8, selling pressure quickly absorbed after order gap. 4H Bollinger upper band at 0.0951 pierced, MACD histogram begins to contract, but EMA20 at 0.0808 forms the first line of defense. Market depth shows buy orders are 6.89% thicker than sell orders, capital support is clear. In a negative rate environment of -0.0177%, short positions' cost remains high, price stays firm around 0.092, a healthy retracement after short squeeze.

Current price is in the suggested entry zone of 0.06283 - 0.09191 upper boundary, chasing higher directly offers poor risk-reward. A better strategy is to wait for a pullback.

🎯Direction: Buy on pullback (pending orders)

⚡Entry/Order: Place order near 0.0830, close to 1H EMA50 support and previous dense trading zone upper edge.

🛑Stop loss: Below 0.04587, the trend lifeline on 4H timeframe.

🚀Target 1: 0.09674, break previous high and test 1H Bollinger upper band resistance.

🚀Target 2: 0.11369, aiming at Fibonacci extension levels on 4H timeframe.

🛡️Trade management:
- Execution strategy: After reaching Target 1, reduce position by 50%, move stop loss of remaining position to entry price. If pending order is not triggered, abandon this trade, never chase.

In this negative rate environment, strong price action often indicates that the fuel for passive short covering is still accumulating. On 1H MACD, both lines remain above zero, bullish momentum not fully exhausted. If retracement can find support near 0.083, the second push could be quite significant. Risk-reward ratio exceeds 1:2, suitable for small position accumulation.

Check real-time market 👇 $ENJ
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