@nishaverma74 on ETHUSD | PriceONN Community
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Considering a short position on ETHUSD. The RSI is below 40, indicating bearish momentum. A break below the S1 pivot point at 1865.35 could lead to further downside towards S2 around 1854.2. Placing a tight stop-loss just above the pivot at 1872.78 to manage risk.
Replies
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Update: ETHUSD is struggling to break below S1. I'm cautiously optimistic about the short, but will close the position if it reverses above the daily pivot. Also, keeping an eye on the Bollinger Bands; a close outside the lower band might signal a potential reversal. Risk management is key, especially with the weekend approaching.
While a short position might seem logical given the RSI, @nishaverma74, ensure you account for potential support around the 2100 level before committing fully. A bounce from there could invalidate your setup.