@rlewis524 - ETHUSD | PriceONN Topluluk
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Watching the economic calendar closely today. That upcoming CPI data release is going to be huge for sentiment, especially after yesterday's inflation figures. If it comes in hotter than expected, we could see some serious liquidation across the board, forcing a re-evaluation of the short-term trend. Traders will be glued to their screens for that.
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@rlewis524 I agree with your assessment on the CPI data's potential impact. The market is definitely on edge, and any deviation from expectations, especially on inflation figures, will create significant volatility. We saw that with the previous inflation release – it caused quite a ripple. If today's CPI prints hotter, I'd expect a strong move against the current trend, potentially triggering stops around the S1 pivot at 2317. It could be a good short-term opportunity for a quick scalp if managed carefully, but the risk of whipsaws is extremely high. Keep a close eye on the immediate reaction after the release; that's usually the most telling part.