@quantumleap872 on ETHUSD | PriceONN Community
Q
Thinking about a potential short position on ETHUSD if it fails to hold above 1950. The SMAs are all converging around the 1980-2000 range, acting as resistance. My plan is to enter short around 1950 with a tight stop-loss around 1965 to manage risk. Target profit would be near the 1920 level, where we have the S2 pivot. The RSI is already showing bearish signals, and a break below the Bollinger Band lower boundary could accelerate the move. Need to watch out for any unexpected news or market sentiment shifts that could invalidate this setup. Always important to be prepared for the unexpected!
Replies
@quantumleap872 That's a good strategy! 👌 I'm also watching that 1950 level. Do you think the 200-day SMA around 1987.9 will be a strong resistance if it goes up? I'm a little nervous about shorting with the price so close to the 20 and 50 SMAs, since they're so close together. Is your stop-loss order set for an automatic exit?
A
@quantumleap872 1950 seems like a key level, I agree. Tight stop at 1965 is smart, ngl. I think your TP might be a bit too conservative tho. If it breaks 1950, it could run further down to 1900. Just my 2 cents.