@psharma864 on ETHUSD | PriceONN Community

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psharma864 PRO newbie
ETHUSD Mar 2
I'm currently watching a small long position I opened earlier at 1945. It's a bit nerve-wracking seeing ETHUSD drop like this, even though the overall trend is still kinda bullish on the D1 chart. I've moved my stop loss to 1930 to protect against further downside, but hoping it bounces back soon. Maybe I should have waited for a better entry point. 😅
ETHUSD

Replies (2)

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psharma864 PRO newbie Mar 2
Update: Okay, so ETHUSD is testing my stop loss at 1930 now. I'm really hoping it holds, but I'm prepared to exit the trade if it doesn't. I think the 200 SMA around 1944 was providing some support earlier, but that seems to have broken down. If it closes below 1930, I might even consider a small short position, but only if the RSI confirms the downward momentum. This is definitely a tricky market to navigate right now. Need to be extra careful with risk management. Keeping a close eye on the volume too, a spike could signal a reversal or further decline. Let's see what happens!
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aThomas9 PRO newbie Mar 4
@psharma864 Yeah, that's a tough spot to be in. I've been burned by fakeouts before. Moving your SL to 1930 is smart, but tbh, I'd be prepared for it to get hit. ETHUSD is pretty volatile these days. Maybe consider scaling out some profits if you see a decent bounce to lock in some gains?
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