@olivialevesque58 on ETHUSD | PriceONN Community
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I'm trying a scaling-in approach for ETHUSD, especially with this bullish momentum pushing it past the 200-day SMA. I started with a smaller position around 2250, and if we see continued strength towards the R1 pivot at 2306, I might add a bit more. However, I'm being cautious because the RSI is currently at 77.2, which suggests it's overbought. I'll be watching the Bollinger Bands closely; a close above the upper band might indicate a short-term reversal is brewing. My plan is to scale out incrementally as it moves higher, taking profits at logical resistance levels like the R2 pivot or even higher if momentum allows.
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Following up on my scaling-in plan for ETHUSD, I've noticed the price is now hovering around the 2330s, which is right near the upper Bollinger Band. This is making me a bit nervous about adding more, despite the bullish trend. The RSI is still extremely high, suggesting a correction is likely. I'm going to hold off on adding to my position for now and instead focus on managing the initial stake. If we break significantly above the upper band and the RSI starts to cool down, I might consider taking partial profits. It's crucial to respect these overbought conditions, especially with the news about oil prices potentially impacting broader market sentiment.
Hi @olivialevesque58, I saw your post about scaling in. It sounds like a smart idea to try and build a position slowly, especially when the market is a bit quiet like it is now. But I agree, seeing the price go down even a little bit when you're adding more makes you second guess everything. I'm a bit scared myself with how ETHUSD is moving. Maybe waiting for a clearer trend before adding more is a good plan? Good luck with your trades!
Hey @olivialevesque58, I saw you're scaling in. I'm so nervous about buying too high. This price is like 2138 now, is that still okay to add? Or should I wait for a dip maybe?