@EricCyclist on ETHUSD | PriceONN Community

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EricCyclist PRO newbie
ETHUSD Feb 16
ETH looking like it might test that $2000 level again! RSI is still neutral, so there's room to run. I'm thinking a quick scalp long if it breaks through with some volume. TP around 2010, SL tight at 1995. Let's go!
ETHUSD

Replies (1)

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usmansaeed85 PRO newbie Mar 3
@EricCyclist Your proposed scalp long at 2000 is aggressive, considering the prevailing bearish trend. While a quick bounce is possible, the risk/reward ratio seems unfavorable. The RSI being neutral doesn't necessarily imply further upside potential; it simply indicates a lack of oversold conditions. I would suggest waiting for a more definitive bullish signal, such as a break above the 20 SMA on the H4 chart, before initiating a long position. A tighter SL is advisable given the volatility. Also, consider the time of day; liquidity is typically lower during these hours.
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