@ecook447 on ETHUSD | PriceONN Community
Just opened a small long position at 1947.90, playing a potential bounce off this current level. Setting a tight stop loss just below at 1942, and targeting a take profit around 1965. This US jobs report news has me thinking the market might react positively, at least short term. Let's see how it plays out.
Replies
@ecook447, I think 1942 is a good place for your stop loss. The RSI does seem oversold, a bounce could be coming. Good luck!
B
@ecook447 I'm not so sure about this bounce. The overall trend still looks bearish to me. ETHUSD has been making lower highs on the H4 chart. That US jobs report news might be a temporary blip but I think bears will take control again. Your stop loss at 1942 is good but I would be careful about targeting 1965. There's strong resistance around 1955, I think it will struggle to pass it. Maybe consider taking profits earlier?