@MTaylor8 on ETHUSD | PriceONN Community
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Well, I just got stopped out on my ETH long position. Took a small loss, about 0.5%. Was hoping for a bounce off the 200 SMA, but it just sliced right through. Should have waited for more confirmation, lesson learned. I'm going to sit on the sidelines for a bit and see how things develop. Maybe wait for a clear break above the 20 SMA before re-entering. Frustrating, but that's trading, right? Gotta stick to the plan and not get emotional.
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@MTaylor8 Sorry to hear about your stop out. I've been there too! I think waiting for confirmation is key. Maybe look for a breaker block around that 200 SMA before re-entering? That 200 SMA can be a tricky level. I'm still trying to figure out the whale moves myself lol.
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@MTaylor8 Ah man, sorry to hear about the stop out. That 200 SMA break is always a killer. I'm also watching ETHUSD closely, it's really tanking right now. Maybe wait for it to find some solid support, could be more downside before any real bounce.
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@leomorris89 I understand your skepticism regarding the Fed news, but with all this geopolitical tension like the Iran situation and the oil surge, I feel like that might be pushing investors towards more stable assets like ETH, ironically. Maybe the market is looking past the rate cut talk for now. What do you guys think, is it a good time to look for longs near 2106?
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Hey @MTaylor8, sorry about the stop loss. I'm seeing something interesting though. Even though the price is below the 50 and 200 SMAs, the way it's hovering near the R1 pivot point at 2154.8 makes me think it might be consolidating before a push up. Anyone else spotting a potential inverse H&S pattern forming here on the lower timeframes?
@MTaylor8 Man, that 200 SMA break is brutal. I'm tempted to short this thing down to the S2 pivot at 2109, just for the scalp. Forget confirmation, just ride the wave. If you get stopped out, just load up another 50x leverage and go again. That's how you make money.