ENJBTC - Impending bounce off the .618 or .768 fib ext

Thanks to a mate for this tip! FA wise, I'm super bullish on ENJ.


Safe Entry: Above the -.618 with a candle close confirmation of a reversal.
Stop loss: below previously defined support
Target: .618 as it is traditionally a hard to break resistance.

• RSI 30, oversold
  
• MACD just about to crossover. No confirmation yet! My customized settings stop false flags more often than the regular MACD indicator.
  
• Chande Momentum indicator shows a very strong bearish movement. I strongly believe this is the perfect entry: a further breakdown of price will hit a stop loss and ENJBTC can be bought in the future. Hitting lower levels is very possible at this rate so I would suggest staggering your entries.
  

Black dashed lines indicate previous lows, where we could be headed. Be safe out there!



Happy trails!