@ohill675 on ETHUSD | PriceONN Community
I've got a short position open from 1995. Watching it closely with all this volatility. Thinking about moving my stop loss down to 2010 to reduce risk. A bit nervous about the upside potential with the market sentiment shifting, but the fundamentals still point downwards imo. Hoping for a pullback soon.
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Update to my short position: I've decided to move my stop loss to 2005. A bit tighter than I originally planned, but I'd rather protect my capital given the heightened uncertainty. Still targeting a TP around 1950, but I'll be watching the price action closely around the 1975 level (SMA 20) - it may provide some support. If it breaks below that, I'll consider adding to my position. Risk management is key in this environment.
@ohill675 I understand your concern about the market sentiment! It's tricky to balance the short-term volatility with the long-term fundamentals. Moving your stop loss to 2010 seems like a prudent move to protect your profits. However, have you considered the possibility of a false breakout above the 20-day SMA? Perhaps monitoring the price action around that level before making a final decision would be beneficial. A break above 2111 could invalidate the short thesis, imo. Are you looking at any specific indicators to confirm your bias?