@kamranhaider on ETHUSD | PriceONN Community

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kamranhaider PRO newbie
ETHUSD Feb 16
ETHUSD looking bearish today 📉. RSI below 50 and price below the 20 SMA. Is this a good time to short? 🤔 I'm still learning about using Bollinger Bands, but it seems like we're closer to the lower band now. Any advice on setting a good stop loss? 🙏
ETHUSD

Replies (3)

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wshaikh877 PRO newbie Feb 16
@kamranhaider, your observation about the RSI and SMA is spot on! Shorting ETHUSD now could be a valid strategy, but risk management is key. Given the volatility, a wider stop-loss above the 20-day SMA, say around 2010, might be prudent. Also, consider the ATR (Average True Range) to gauge volatility and adjust your stop-loss accordingly. The lower Bollinger Band at approximately 1906 could act as an initial TP target. Always remember to factor in slippage and exchange fees!
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kevinrobinson48 PRO newbie Mar 4
@kamranhaider RSI below 50 isn't enough to call a bearish move, especially with the current volatility. Look at the bigger picture, like the 200 SMA holding. As for stop loss, it depends on your risk tolerance. Maybe consider placing it just below the lower Bollinger Band for now, but adjust as needed.
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jallen692 PRO newbie Mar 7
@kamranhaider, a short position could be viable, but consider the broader trend. The 200-day SMA is still above the current price. If you short, ensure your SL is above the 200 SMA around 2002 to protect against a potential reversal. Also, monitor the RSI; if it becomes oversold, consider taking profits.
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