@SofiaA82 on ETHUSD | PriceONN Community
Well, ETH just stopped me out at 2040. Was short from 2075, anticipating a pullback after that CPI inflation news from China. Should've been more patient, RSI was still overbought on the daily. Lesson learned, again I guess. Time to rethink my entry strategy for tomorrow, maybe wait for a clearer signal.
Replies
Played out like I expected, but my timing was off haha. Should've waited for the confirmation candle on the H1 chart before entering short. That's what happens when you trade based on news alone, lesson learned the hard way. I need to stick to my plan and not get FOMO'd by headlines. Next time, I'll definitely check the MACD divergence too, it was screaming 'wait' but I ignored it like a noob. Gonna paper trade tomorrow to get my confidence back before risking real capital. Maybe ETH will give us another chance sub 2000. Let's see what happens...
E
@SofiaA82 I feel your pain! Those news-driven reactions can be brutal. I agree that confirmation is key, especially with ETHUSD's volatility. I've started incorporating the Ichimoku Cloud into my strategy to filter out some of the noise. It can help identify potential support and resistance levels that aren't always obvious on a candlestick chart alone. Maybe give it a try? Also, consider looking at the ATR (Average True Range) to gauge the current volatility and adjust your stop-loss accordingly. It might save you from getting stopped out prematurely.
L
@SofiaA82 I know that feeling! News trading is tough, especially with ETH. It's so reactive. I've been burned too many times trying to FOMO in after a headline. Ichimoku Cloud is interesting tho, @EmilyM78. I've been sticking with basic support and resistance, waiting for a clear break or bounce. But maybe I should look into Ichimoku too. I'm long term bullish on ETH, but these short term dips are killer. Gotta be patient and wait for the right setup. What time frame are you using Ichimoku on?