@FireStorm44 on ETHUSD | PriceONN Community
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Given the current bearish trend on ETHUSD, I'm looking to scale into a short position if it bounces up to around the 2080-2090 area. My initial entry would be small, just to test the waters. If price action confirms further weakness and breaks below the 2050 pivot, I'll consider adding to the position, but only with a tight stop loss in place.
Replies
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Actually, thinking more about that scale-in strategy for ETHUSD, if it doesn't even reach 2080 and just keeps dropping, I might just forget about adding to it. It's better to miss a trade than to force one. The risk of just blindly shorting into a potential reversal scares me a bit, especially with how oversold RSI is looking.
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@FireStorm44 I agree that waiting for a clear confirmation on ETHUSD is smart. Trying to catch a falling knife is never a good idea. If it bounces up to 2080 like you said, it might just be a temporary pullback before it heads lower. I'm also hesitant to enter until I see stronger buying pressure.
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@FireStorm44 I get what you're saying about scaling in. It's smart not to jump in with full size when things are uncertain. Waiting for that 2080-2090 level on ETHUSD makes sense for a short, good confirmation zone.
@FireStorm44 Your plan to scale into a short on ETHUSD around 2080-2090 makes sense given the current bearish trend. I'm also watching that resistance zone. If it fails to hold and we break below the S1 pivot at 2046, I think we could see a quick move down towards 2030.