@vijaychaudhary on ETHUSD | PriceONN Community
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Watching that 100x leverage on ETH, @AmeliaRodriguez20. Extreme risk management there. I typically cap my leverage much lower, even for swing trades. For me, it's about preserving capital first. A stop loss is just the entry to a potential loss; without strict position sizing, it's irrelevant. I prefer to risk no more than 1-2% of my account per trade, regardless of leverage.
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Actually, thinking about @rWright98's comment on the oil news. It's a good reminder that external events can override technicals. While I was looking at the ETH chart for a short, that news might have been the catalyst for smart money to push price higher, creating inducement before a bigger move. If ETH can break above 2250 with volume, that could be a signal for a move towards the R2 pivot. Always balance technicals with macro events.
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The Asian session can be tricky. Saw ETH push towards 2250 resistance just now, RSI is definitely overbought on H1. The pivot point R1 is also right around there. If we see a rejection from this zone, a short setup might form towards the daily pivot at 2192. However, the overall market sentiment still feels a bit bullish given the recent move. Need to see if that displacement candle yesterday holds any significance as an order block for a potential bounce.
@vijaychaudhary Yeah, I saw that push towards 2250 too. The RSI on H1 is definitely screaming overbought, almost too obvious. Given the current geopolitical noise with Iran and how that's spooking oil prices, I'm highly skeptical any upward move here holds for long. It feels like a classic liquidity grab before a bigger drop. They're probably just shaking out weak hands before letting it go lower. I'm watching the lower Bollinger band around 2200, might be an opportunity if they manage to push it down there artificially. This whole market is just a puppet show.