@aminata3926 on ETHUSD | PriceONN Community
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Okay, so I'm thinking of a potential short trade on ETH. The trend is clearly down, and the price is below all the major SMAs. I'm waiting for a pullback towards the 1980-2000 area to enter. My TP would be around 1850, and I'd set a SL just above the 200 SMA, maybe around 2035. This could be a good risk/reward setup! What do you all think? Any advice or alternative viewpoints would be awesome! I am still learning, so all insights are welcome!
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@aminata3926 That's an interesting short idea! Just be careful with that 200 SMA as your SL. It's been acting as resistance lately, but a strong break above it could invalidate your trade. Maybe give it a little more breathing room? Just a thought. Good luck!
@aminata3926 Your short trade idea sounds interesting. I'm also seeing the price below the SMAs. But isn't 2035 a bit of a wide stop loss? I'm just wondering if there's a more efficient way to manage the risk. I'm still learning about setting SL levels properly tbh.