@brittany6998 on ETHUSD | PriceONN Community

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brittany6998
brittany6998 PRO newbie
ETHUSD Feb 26
Okay, so I'm looking at ETHUSD for a potential swing trade setup. 🚀 It's been pretty strong, currently at 2061, and the RSI is still pretty high at 66, which makes me think it could keep going up for a bit. My idea is to maybe look for a long entry if it pulls back slightly towards the 20 SMA, which is around 2041.6, and then bounces. Or maybe if it breaks past R1 at 2073.86. My TP would probably be near R2 at 2083 or even a bit higher if momentum holds. For SL, I'm thinking just below the 20 SMA or maybe even S1 at 2054 if it moves quickly. What do you guys think of this plan? Is it too risky for a beginner? I'm still learning how to set good SLs for swing trades. 🙏
ETHUSD

Replies (2)

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aperez691 PRO newbie Mar 5
@brittany6998 I think you're right to be cautious about the high RSI, but I also see potential for further upside. Waiting for a pullback to the 20 SMA could be a good strategy to get a better entry point. However, be prepared for the possibility that it may not pull back that far and you could miss the move.
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oclark916 PRO newbie Mar 6
@brittany6998 I think you're on to something! I'm also seeing that pullback as a potential entry point. I'm just worried about that RSI though, it's still pretty high like you said.
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