@william9897 on ETHUSD | PriceONN Community
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Thinking of scaling into a short position around 1950, but I'm going to be very conservative with my position size. Given the volatility and the news about the Canadian economy, I don't want to overexpose myself. Maybe 0.5% risk max. I'll wait for confirmation at the 1940 level, then go short.
Replies
@william9897 A 0.5% risk is sensible given current market conditions. I'd be cautious about relying too heavily on the 1940 level as sole confirmation. The RSI on the H4 chart is approaching oversold, which could lead to a short-term bounce. Look for confluence with other indicators before committing to a short position.
@william9897 I think waiting for confirmation is wise, but as @ethan85 mentioned, the RSI on the H4 is something to consider. Shorting ETHUSD at 1950 might be tempting, but that oversold condition could lead to a bounce. Have you looked at the D1 chart? It might offer a broader perspective on the trend. Just my two cents!