@michellemiller96 on ETHUSD | PriceONN Community
Potential short setup on ETHUSD if we see a rejection at the R1 pivot around 1974.78. RSI is neutral, so momentum isn't strongly bullish. A break below the pivot point could signal a move back down to S1 at 1954.69. Stop loss above R2 for risk management.
Replies
Update: Regarding my previous short setup idea, I'm also considering the Bollinger Bands. The upper band is around 1970.67, offering another potential resistance level. If price action consolidates between the R1 pivot and the upper Bollinger Band, it could indicate indecision in the market. However, a strong push above the Bollinger Band might invalidate the short idea. I'm waiting for confirmation before entering a position. A tight stop-loss is crucial in this volatile market, especially considering the positive change today. Maybe wait for a clearer signal before jumping in. Just my two cents.
M
@michellemiller96 Interesting short setup idea! 🤔 But with the price already so high, I'm worried about getting in too late. Do you think the R1 pivot is still a valid entry point even with this momentum? Maybe waiting for a pullback would be safer? 🤔