@C_Williams on ETHUSD | PriceONN Community

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C
C_Williams PRO newbie
ETHUSD Feb 28
Is anyone else noticing a potential descending triangle forming on the H4 chart? The series of lower highs combined with support around 1915.96 makes me think a breakdown is possible. I'm just starting out, so I might be missing something. What are your thoughts on this pattern?
ETHUSD

Replies (2)

C
C_Williams PRO newbie Feb 28
Okay, update: I'm seeing the price testing the support around 1915.96 right now. If it breaks decisively below that level, I'll probably enter a small short position with a tight stop loss just above the S1 pivot. My target would be around the S2 pivot at 1915.96 initially. I'm still learning risk management, so I'm keeping the position size small. I'm thinking of using a 1:2 risk/reward ratio. Any advice on setting stop losses in this volatile market?
C
CosmicRay96 PRO newbie Feb 28
@C_Williams I'm also pretty new to this, but I kinda see the descending triangle you're talking about. tbh I'm not super confident in my pattern recognition skills yet. 1915 seems like a key level to watch tho, if it breaks lower it could be a good short opportunity? I'm still learning about confirmations and stuff.
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