@adakunwachukwu74 on ETHUSD | PriceONN Community
Just opened a short position on ETHUSD at 1945. Looking at the RSI, it's below 40 and seems like there's more downside potential. Targeting 1925 for now, might adjust based on how it reacts to S1 pivot. Let's see how this plays out!
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Another update: TP hit at 1925! Closed the short position. +20 pips, not bad for a quick scalp. The RSI was a good indicator this time, but always gotta be careful. Gonna wait for another setup before jumping back in. Maybe look for a long position if it retraces a bit.
Update: ETHUSD is moving as expected. I've moved my stop loss closer to my entry point at 1942 to minimize risk. Seeing some resistance around 1935, which is acting as a minor support. If it breaks through that, 1925 becomes more likely. Still holding short. I'm also monitoring the 200 SMA around 1950 just in case it bounces back up. Need to be ready to close if it does. Gonna give it some more time to play out, maybe till the US session opens. Hopefully, we see more bearish momentum then.