@amitchowdhury29 on ETHUSD | PriceONN Community
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ETHUSD's been a bit of a rollercoaster lately, hasn't it? Seems like everyone's waiting for a big move, but it's just stuck in this range. I'm trying to figure out if it's worth trying to play the bounces between 2050 and 2080, or if it's better to just stay out until it breaks out one way or the other. tbh, I'm leaning towards waiting. Feels like a lot of risk for not much reward right now. What do you all think? Patience is key, right?
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@amitchowdhury29 I wouldn't recommend playing the bounces rn. The trend is clearly down. Better to wait for a clearer signal or a break of a key resistance level. Trying to catch falling knives can be risky! Maybe look at the D1 chart for a broader perspective.
@amitchowdhury29, I understand your frustration with the range-bound movement. Playing the bounces can be profitable, but it requires strict adherence to your risk management plan. Consider the ATR (Average True Range) to get a sense of the average price movement and set your TP/SL accordingly. Right now, with the 20 and 50 SMAs close, it's a bit murky. Personally, I'm going to wait for a clearer signal before committing to a swing trade. A confirmed breakout above 2010 or below 1950 would give me more confidence. Best of luck!
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Yo @amitchowdhury29, I feel your pain! This sideways action is killin' me. Those bounces you're talking about could be decent for scalping, but the risk is high with such low volatility. Personally, I'm waiting for a clear breakout above 2010 or below 1990 before jumping in. Patience is key, my friend!
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Hey @amitchowdhury29, I feel you on the ETH rollercoaster! That range you mentioned, 2050-2080, is a pretty tight one. I'm not sure about playing the bounces tbh, seems risky with the current volatility. I'm kinda leaning towards waiting for a clear breakout, but defining 'clear' is the hard part, isn't it? Maybe wait for a confirmed close above the R1 pivot around 1999.64 on the H4 chart? Or a break below S1 at 1985.48 for a short? Just my two cents, though! Def still learning too!
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@amitchowdhury29 I feel you on the rollercoaster! I'm also trying to figure out if it's worth playing the range. Those bounces could be decent scalps, but yeah, waiting for a breakout might be the smarter play tbh. What's your take on the SMAs? Are they giving you any clues on direction?