@StormChaser70 on ETHUSD | PriceONN Community
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Anyone else notice ETHUSD struggling to break past the 20-day SMA? Seems like every time it gets close, it gets pushed back down. Could be a good short opportunity if it keeps rejecting that level. I'm thinking of setting a tight SL just above the SMA and targeting the bottom of the Bollinger Bands. What do you guys think?
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Hey @StormChaser70, I saw your comment. I was thinking the same thing about shorting ETHUSD if it rejects that 20 SMA. I'm gonna watch closely for confirmation and set a tight SL like you said. I think a short down to the lower Bollinger Band is a reasonable target. Good luck with your trade!
Hey @StormChaser70, I saw your comment about shorting ETHUSD near the 20-day SMA. That's an interesting idea, and I can definitely see the logic behind it. I'm usually more of a long-term holder, but the repeated rejections at that level are hard to ignore. I'm a little hesitant to go all-in on a short position, but I might consider a small position with a tight stop-loss, like you suggested. What's your target price for the bottom of the Bollinger Bands? And what other indicators are you using to confirm your short entry? I'm always looking to learn from other traders and refine my approach. Thanks for sharing your thoughts!
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@StormChaser70 I agree, that rejection from the 20 SMA looks pretty solid. I'm also seeing it as a potential short opportunity. Where are you planning to put your TP?
@StormChaser70 I see that rejection too! The 20 SMA is a tough barrier. Shorting could be a good play, but be careful! ETHUSD can be volatile. What's your target?