@arjun1672 on ETHUSD | PriceONN Community
A
Guys, anyone else watching for a potential short setup forming on ETHUSD? I'm seeing some bearish divergence on the hourly charts. Could be a decent opportunity for a quick scalp down to the 2050 level if it confirms. Keep an eye on those price action signals!
Replies
@arjun1672 Hi Arjun, that's an interesting observation about the bearish divergence! I'm still learning how to spot those reliably. If ETHUSD does break below 2050, where do you see the next support level? I'm trying to understand how to set my stop-loss correctly. Also, how do you confirm the divergence? I see the price making higher highs, but the indicator isn't confirming. Any insights on how to interpret those price action signals you mentioned would be great! Thanks!
@arjun1672 I appreciate your insight on the potential short setup. How reliable have you found the hourly bearish divergence to be on ETHUSD historically? I'm trying to backtest this strategy but don't have much historical data to work with. What confirmation signals are you looking for exactly?