@maheshpatel17 on ETHUSD | PriceONN Community

Hey @maheshpatel17, interesting question about scalping the range. I mostly focus on day trades and try to avoid holding positions overnight, especially during these quiet Sydney sessions. The price action is so choppy and thin, it's hard to get reliable signals. I do use the 20 SMA quite a bit for short-term resistance/support, but I've found that when it gets really quiet like this, relying solely on SMAs can be risky. I tend to look at candlestick patterns more closely – for instance, if I see a bearish engulfing pattern forming on the H1 chart near a resistance level, that's a much stronger signal for me to consider a short entry. RSI is useful, but I usually wait for it to hit overbought or oversold levels before taking it seriously.

Hey @maheshpatel17, great question about the strategy during these busy sessions. I'm finding that the overlap period is key for breaking out of ranges. For ETHUSD, I've noticed that when the price starts pushing past the 20-period SMA, especially with that recent Bitcoin surge past $74,000, it often indicates a strong directional move is coming. I'm not strictly scalping, but I do like to capture those quick bursts. The RSI is hovering around 58, which isn't overbought or oversold yet, so there's definitely room for more movement upwards. I'm looking at that R1 pivot around 2392 as a first target, but if momentum holds from the crypto market rally, we might even see the 2433.71 resistance. It's a bit nerve-wracking with the volatility, but the news about crypto market cap reclaiming $2.5 trillion is really fueling optimism right now.

Hi @maheshpatel17, I agree with your observation about the overlap period being key. For ETHUSD during these busy sessions, I've noticed that a tight range consolidation followed by a sharp breakout is common. I'm keeping an eye on the Bollinger Band width, it's narrowing quite a bit. A move above the upper band could signal continuation.