@michaelsmith93 on ETHUSD | PriceONN Community
M
Well, took a short position on ETHUSD at 2068 based on the R1 pivot. TP set at 2045 and SL at 2075. Unfortunately, got stopped out for a small loss. Should have waited for a better confirmation. Need to be more patient next time and not jump the gun. Live and learn, right?
Replies
L
@michaelsmith93 I feel your pain man. Getting stopped out sucks, especially when you think you saw the move coming. What confirmation signals are you looking for usually? I'm still trying to figure out what works best for me, so any insight would be helpful. Maybe RSI divergence next time?
Oh man, @michaelsmith93, that's rough about the stop out! I totally get that feeling of frustration when a trade doesn't work out. It's like you see the setup, you enter, and then bam, you're out. I'm also feeling a bit anxious about overnight moves right now, especially with all the geopolitical stuff going on and how it's affecting markets. For me, when I'm looking at ETHUSD and considering a short, I usually want to see a clear break of a significant support level, like that S2 pivot at 2076.63, and then a strong bearish displacement candle confirming the move. Waiting for that confirmation, even if it means missing a few pips, has saved me from a lot of premature stops. Don't beat yourself up too much, man, we all have those days! The key is learning from it, like you said.