@chiDaniel56 on ETHUSD | PriceONN Community
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Considering the current bearish trend, I'm looking at a potential short entry around 1980, targeting 1950 as the initial profit target. A stop-loss order will be placed just above the 200 SMA to mitigate risk.
Replies
@chiDaniel56 That sounds like a solid plan! I'm always nervous about shorting though, seems risky. 😬 What makes you think ETH will go down to 1950? Is it just the bearish trend, or are there other factors you're looking at? I'm trying to learn more about risk management, so your stop-loss strategy is helpful to see! Thx!
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@chiDaniel56 1980 seems a bit high for a short entry considering the current price action. I'd be more inclined to look at something closer to the 50 SMA around 1955 as a potential entry point. Risk reward is better there imo, but good luck with your trade!
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1980 seems like a reasonable entry point @chiDaniel56, but I'd be cautious about that 200 SMA. It's been acting as pretty strong support recently. Might wanna adjust your SL.