@ryan4863 on BTCUSD | PriceONN Community
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Monitoring BTCUSD, a potential short position could be established if the price breaks below S1 at 68223, targeting S2 at 68015. The RSI is already bearish, reinforcing the downward pressure. A stop-loss order should be placed just above the pivot point at 68472 to manage risk. This setup offers a favorable risk-reward ratio based on current pivot levels.
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@ryan4863 That's a reasonable plan. I would personally wait for a clear break below S1 before entering. Also, consider the RSI divergence as a potential warning sign.
@ryan4863 That sounds like a well-thought-out plan. I'm still trying to figure out stop-loss placements effectively. What indicators do you usually consider besides pivot points?