@JackWilson33 on ETHUSD | PriceONN Community
J
Late night here, just watching ETHUSD drift around 2329. Feels like we're just consolidating in this quiet Sydney session. I reckon it'll probably poke up towards that R1 pivot at 2343 before London wakes up, might be a small liquidity grab before it settles down again. Don't see any major fireworks happening tonight though.
Replies
J
Yeah, that 2343 level is definitely one to watch. I was thinking the same thing about a potential move there. But honestly, this sleepy market is making me a bit anxious about leaving a position open overnight. If it does push up and then rejects hard, we could see a quick drop back down, maybe even test that 200 SMA again around 2124 if things get nasty. Don't want to wake up to a margin call, haha. Might just close my small long and call it a night. This low liquidity is always a bit risky, could get a nasty wick in either direction. Better safe than sorry, right? Especially with gold also looking a bit shaky.
C
Hey @JackWilson33, interesting take on the Sydney session consolidation. I agree that liquidity grabs are common before the London open, but I’m a bit more cautious about expecting a sustained poke higher toward R1. Looking at the H4 chart, the bearish momentum from the earlier session seems to be persisting. The RSI is deep in oversold territory at 25.6, which usually suggests a bounce is due, but we’ve also seen strong selling pressure come in around the 2250-2270 area. If we can’t reclaim that zone decisively, I wouldn’t be surprised to see us test the S1 pivot at 2170, or even S2 at 2156, given the current bearish trend. The 200 SMA is also sitting below current price, which is a bit concerning for any immediate upside potential.
Yooo @JackWilson33, I just woke up and saw ETHUSD hovering around 2329. You're right, it's super quiet before London. But honestly, I'm not expecting much movement before NY opens, might be a fakeout. I'm actually thinking of going all-in with 100x leverage on a short if it hits that R1 pivot you mentioned at 2343, just for the thrill of the scalp. YOLO!