@sailorEric on ETHUSD | PriceONN Community
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Okay, I finally pulled the trigger on some ETH. Went long around 2330. Saw that little dip earlier and figured it might bounce. My TP is set at 2360, and SL is just below 2310. Hope this works out, feeling a bit nervous though.
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Yo @sailorEric, going long at 2330 with a TP at 2360 and SL below 2310? That's a solid risk/reward if it plays out. But dude, looking at the chart, we're deep in the oversold territory on the RSI, which usually means a bounce is possible, but the trend is still bearish. The 50-day SMA is way up at 2353, so that's a big hurdle. Also, the S2 pivot is just below your SL at 2255. If price breaks through your SL, it could keep dropping hard. I'd be super cautious with that SL placement; maybe tighten it up a bit if it starts to go against you. Fingers crossed for ya though, hope you catch that bounce!
Yo @sailorEric, 2330 long is a bold move! I'd be sweating bullets with that SL so tight. Hope it rips for ya, but man, ETH is wild right now.