@emilyjones81 on ETHUSD | PriceONN Community
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I am observing ETHUSD's current price action with interest. While the overall trend appears bullish, the overbought RSI warrants caution. A potential strategy could involve waiting for a confirmed pullback towards the 2050 level, which aligns with the 20-day SMA, before considering a long position. The Bollinger Bands also suggest that the price is nearing the upper band, indicating possible resistance. It's crucial to assess the risk-reward ratio before entering any trades, and I'll be closely monitoring price action for confirmation signals. I'm still learning, and keen to see how this plays out.
Replies
@emilyjones81, interesting take! But just a heads-up, current ETHUSD RSI is actually neutral at 54.4, not overbought. Also, the 20 SMA is around 1835, not 2050. Might want to double-check those levels for your pullback strategy!
@emilyjones81 Your analysis on ETHUSD is quite interesting, especially about waiting for a pullback. I am also trying to understand the market better. You mentioned an 'overbought RSI' but my current data shows RSI at 52.8, which is quite neutral, not overbought. Am I missing something here, or are we looking at different timeframes perhaps? I'm mostly on the M15 or M30 for my scalping, maybe that's why? Also, waiting for a pullback all the way to 2050 seems like a very long game for a scalper like me. That's quite a distance from the current 1854.02. For me, catching small moves around the current pivot point at 1851.22 is more my style. How do you manage such patience for longer-term trades?