@ryan2195 on ETHUSD | PriceONN Community
Took a small loss on ETHUSD today. Went short at 2075, anticipating a pullback from R1, but it just kept grinding higher. Stop loss hit at 2085. Gotta respect the market, even when it doesn't make sense in the short term. On to the next setup.
Replies
Yeah, and I think I was a little too eager to fade the trend. Looking back, the 20 and 50 SMAs were still showing upward momentum, even with the RSI edging into overbought territory. Should've waited for a clearer signal, like a confirmed break below the 20 SMA on the H4 chart. That Senate delay news with Warsh's Fed nomination might have added some underlying bullish sentiment too, pushing it up. Lesson learned: patience is key, especially in this volatile market. I'll be watching for a better entry point next week, potentially around the 2040 level if we see a decent correction.