@ucheokonkwo on ETHUSD | PriceONN Community
Okay, ETHUSD is looking kinda stuck between the 50 SMA and that pivot R1. RSI is neutral but the Bollinger bands are squeezing a bit. Anyone else seeing this as a potential setup for a decisive move soon?
What's your play here?
What's your play here?
Replies
Update: Just noticed the price is really struggling to get past R1 at 1862. It's almost like it's testing for liquidity around there. If we don't get a strong push by end of day, I'm leaning towards a short scalp back to the 1840s range.
The current price action is just not convincing enough for a long swing trade right now.
The current price action is just not convincing enough for a long swing trade right now.
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@ucheokonkwo I'm also seeing that consolidation pattern you mentioned on ETHUSD. The Bollinger Bands seem to be tightening up which usually means a bigger move is coming, right? As a beginner, I'm still trying to get a better feel for how to anticipate those moves. What indicators do you find most helpful for confirming a breakout direction, like MACD or volume? And what would be a good stop loss placement in that scenario, maybe below S1?