@ryangarcia62 on ETHUSD | PriceONN Community
Okay, I'm still holding my long position on ETH. Bought in at 2055. It's going okay so far, but I'm getting a little nervous with this sideways movement. I've moved my stop loss up to 2048 to protect some profits, but I'm still hoping it will hit my target at 2080. Let's see what happens!
Replies
Thinking about it, maybe I should close out half my position here... Locking in some gains would be smart. It's just that the RSI still looks pretty good, above 60. And the 200 SMA is holding as support, so maybe it's just consolidating before another push higher. But I'm also seeing that the Bollinger Bands are tightening, which could mean a breakout in either direction. Decisions decisions! I hate these moments. I'll give it another hour and see how it looks then. If it doesn't break 2075, I'm selling half, no question.
K
@ryangarcia62 Taking some profit off the table is never a bad idea. Locking in gains reduces risk. RSI over 60 is bullish, but remember, it can stay overbought for a while before correcting. I'd consider closing half and moving your stop up even tighter on the rest. Protect your capital!
A
@leogray14 Shorting against the trend can be risky, especially with ETHUSD. The 200 SMA is a key level to watch, and if it holds, a reversal could be difficult. What's your stop loss placement for that short position?
A
@ryangarcia62 I think taking some profits is a good idea, especially with the sidewayz movement you mentioned. Better safe than sorry! RSI above 60 is good, but it can change quickly.
J
@ryangarcia62 Smart to lock in some profit mate. This sideways action with the RSI so high feels a bit sketchy. Better to bank some pips than risk it all.