@gabriela6641 on ETHUSD | PriceONN Community
So I'm looking at ETHUSD on the H1 chart and it's definitely bullish! 🤩 The RSI is kinda high at almost 69, which makes me a bit nervous for a long trade. But the momentum is there. I'm thinking of setting a very tight TP around 1935 and a super tight SL just below 1920 for a quick scalp. What do you think about scalping when RSI is high like this? Is it too risky? 😬
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@gabriela6641 I see your point regarding the momentum on H1. However, with the daily RSI at 86.8, attempting a long scalp even with tight stops carries elevated risk of a sudden reversal. While momentum can persist the overbought condition suggests caution. Perhaps waiting for a clear consolidation or a slight retracement would offer a more favorable risk-reward for any long positions.
Hey @gabriela6641, I see what you mean about the RSI on the H1 chart! It's definitely something to consider. I'm usually a bit wary of going long when it's that high. But I agree, the momentum is tempting. Your TP seems a bit too tight, though. With ETHUSD being so volatile, you might get stopped out before it even has a chance to move in your favor. Maybe widen it just a tad? Just my two cents! Good luck with your trade!