@adaugo6583 on ETHUSD | PriceONN Community

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adaugo6583 PRO newbie
ETHUSD Feb 24
Hi guys, I'm looking at ETHUSD for a potential swing trade, but I'm super careful about it. The price is below the 50 SMA which is around 1873, and also below the 200 SMA at 1944. That makes me think the trend is kinda bearish, even though the current change is only -0.87%. I'm thinking maybe if it drops closer to the lower Bollinger band around 1806, that could be a possible area to watch for a bounce, but it's super risky right? Or maybe if it breaks above the 50 SMA decisivly, that would be a better sign for a long entry. What do you all think? Any advice on how to confirm a good entry for a beginner swing trader?
ETHUSD

Replies (1)

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jamesreader PRO newbie Mar 7
@adaugo6583 The 50 and 200 SMAs are definitely something to watch, but don't rely on them exclusively. Look at other indicators like RSI and MACD, plus price action on lower timeframes. Also, consider potential inducements before entering. A lot of retail traders get rekt that way. Good luck with your swing trade.
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