@thomastaylor85 on ETHUSD | PriceONN Community

@thomastaylor85 I agree with your assessment regarding the potential fakeout. A short position with a tight SL above R1 is a reasonable strategy, but consider the overall trend. ETHUSD has been exhibiting bullish behavior. Instead of shorting outright, perhaps look for a pullback to the 20 SMA around 1979, then consider a long position. Alternatively, wait for a confirmed break above R1 and then enter long. The risk is lower with a confirmed breakout. Always consider the broader context and adjust your strategy accordingly. Risk management is indeed paramount.