@SolarFlare74 on ETHUSD | PriceONN Community
Took a small loss on my last ETH trade. Entered short near 2165, anticipating resistance around R2 pivot (2177.61), but it broke through pretty quickly. SL was at 2180, so it wasn't a big hit, but still frustrating. Always gotta respect those levels though.
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Thinking about it more, maybe I should adjust my strategy to account for these geopolitical factors. The market's been really sensitive to news lately. Perhaps incorporating a news sentiment indicator could help filter out some of these false signals. Also, I should probably widen my stop loss a bit to avoid getting shaken out by these quick pumps. I'm going to backtest some different stop loss strategies to see what works best. It's lunch time, so I'll do that while I eat.
Yeah, I think I was a bit too eager to jump in, should've waited for more confirmation. RSI was already approaching overbought territory on the H4 chart, which should've been a red flag. Also, the news about geopolitics probably played a role in the unexpected pump. I need to be more patient and wait for better setups, instead of trying to anticipate the move. Risk management is key, even with small positions.