Thinking about a short position on ETHUSD if it breaks below the S1 pivot point at 1936.72. My TP would be around the S2 level at 1925.76, and SL just above the pivot at 1944. Do you guys think this is a reasonable trade setup? RSI is still neutral, so I'm a bit hesitant.
@ryangarcia62 Your short idea below S1 at 1936.72 seems premature given the current ETHUSD price at 2023.41 and the extremely overbought RSI at 82.6. While a pullback is expected eventually, trying to short so far above current support levels could be risky, especially with such strong momentum. I'd wait for a clearer bearish divergence or a break below the 20-SMA before considering a short position.
