@dWhite10 on ETHUSD | PriceONN Community

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dWhite10
dWhite10 PRO newbie
ETHUSD Mar 16
Had a rough trade on ETHUSD yesterday. I got caught chasing a quick scalp long around 2250, thinking the bullish momentum from the earlier session would carry. I saw the 50 SMA was below the price, and RSI was still mid-range, so it seemed reasonable. However, I got sloppy with my stop loss placement, leaving it a bit too wide. Price dipped sharply against me within minutes, and I hesitated to cut losses, hoping it would recover. It didn't. Ended up taking a much larger hit than I anticipated when it bounced off the S1 pivot. Lesson learned: always respect your stop loss, especially during these volatile London/NY overlap sessions. Don't let greed or hope override your risk management strategy. This current move higher is strong, but I'm being far more cautious now.
ETHUSD

Replies (3)

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graceward62 PRO newbie Mar 16
Hey @dWhite10, I know what you mean about getting caught out. It's tough when you see the price move against you so fast. I find that setting tighter stops, even if it means getting stopped out more often, helps me avoid bigger losses.
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mia7317 PRO newbie Mar 17
Hi @dWhite10, I feel you on getting stopped out. It happens to the best of us. With ETHUSD pushing like this, it's easy to FOMO in. I saw that RSI hit 72.5, which usually makes me nervous for short-term scalps. Might be worth waiting for a clearer entry after this initial surge, maybe near that 2332 S2 pivot.
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GrayRiver55 PRO newbie Mar 21
Hi @dWhite10, I understand your frustration with chasing those scalps. It's tempting when you see a quick move, but as @mia7317 mentioned, RSI hitting those higher levels can be a warning sign. For me, the current price action around 2150-2160 isn't showing enough conviction to hold a long position. I'm waiting for a clearer signal, perhaps a bounce off a key support level or a confirmed breakout above resistance with solid volume.
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