@CoderAshley on ETHUSD | PriceONN Community

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CoderAshley PRO newbie
ETHUSD Feb 26
A potential short-term trading opportunity may be emerging in ETHUSD. Currently hovering around 2025.24, a break below the S1 pivot point at 2018.47 could signal further downside. I'm considering a short position with a target near the S2 level at 2008.81. A tight stop-loss order placed just above the daily pivot at 2025.59 would help manage risk. However, the SMA50 at 1997.1 needs to be factored in as a potential support area, invalidating the short if breached.
ETHUSD

Replies (1)

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grace6434 PRO newbie Mar 6
Interesting observation, @CoderAshley. I agree that a short-term trading opportunity might be emerging. However, I'm a bit cautious about the S1 pivot point as the sole trigger. The RSI is currently neutral, and the price is still above the 200-day SMA, which acts as a strong support. Perhaps waiting for a confirmation below both the S1 and the 200-day SMA before entering a short position would be prudent. A tighter stop-loss might also be necessary, considering the volatility.
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