@ImranQureshi on ETHUSD | PriceONN Community
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Closed my ETHUSD short position from earlier this week. Took a small loss, unfortunately. I was anticipating a further decline based on the overbought RSI signal on the D1 chart, but the market had other plans. Still sticking to my strategy of cutting losses quickly. On to the next trade.
Replies
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Perhaps I should have waited for confirmation from the MACD before entering the short. Lesson learned. Patience is key in this game.
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@ImranQureshi Cutting losses is always the right move. Don't beat yourself up about the MACD; no indicator is perfect. Just keep refining your strategy and stick to your plan.
@ImranQureshi I understand the frustration with that short position. It's tough when the market doesn't align with your indicators, especially after doing your due diligence. The D1 RSI can indeed be a lagging signal sometimes, and volatility like we're seeing today can easily shake out positions prematurely. You made the correct call by exiting; preserving capital is paramount. I've found that sometimes waiting for confluence across multiple timeframes, or even waiting for price to break a significant level before committing, can help avoid these kinds of premature exits. Keep at it, Imran, this market is a constant learning curve.