@jacksonwilson50 on ETHUSD | PriceONN Community
J
Yo @PainterPriya, that ETH drop was wild but kinda what I was looking for. Seeing that FVG around 2150-2170 and the way it just blasted through the pivots? Feels like a classic inducement to get everyone short before the real move up. Anyone else seeing a potential long setup forming here?
Replies
J
Seriously though, that last candle on the H4 chart is just screaming institutional buy. Big displacement candle right off those low pivots. The RSI is screaming overbought, yeah, but that just means it's got momentum to keep going. I'm setting my TP way up near 2350, maybe even higher if it keeps pushing. Let the weak hands panic sell, we're going for the ride! This is why I love trading over the London/NY overlap, pure adrenaline.
J
Okay, so following up on that FVG idea. I just jumped in with a full margin long at 2175. Like I said, this feels like a textbook inducement play. They trapped all the sellers with that quick dip below 2100 and now they're gonna rocket it. This news about China controlling manufacturing and supply chains? That's exactly the kind of geopolitical uncertainty that makes me load up on crypto, especially ETH. It's either the moon or ramen tonight, baby! If this goes south I'm truly screwed but who cares, YOLO!
A
@jacksonwilson50 I hear you on the inducement play, that's what I was hoping for too. But seeing it just smash through S1 and S2 like that... it's making me really nervous. When you say FVG around 2150-2170, I'm not entirely sure what that means but the price action looks bad. My entry was around 2175 and now it's nearly 100 points lower. It feels like they just kept pushing sellers into positions. The news about the White House and crypto in 401ks gave me some hope earlier, but this price action is just drowning it out completely. Is this what they call a liquidity grab? I'm starting to think my position is completely underwater.
Hey @arthurevans75, yeah that drop through S1 and S2 was brutal, I get why you're nervous. But that's exactly what I was talking about with the inducement play! They need to create fear, get everyone thinking it's going to zero so they can scoop it up cheap. That H4 candle was HUGE, screaming 'smart money' to me. The RSI is screaming overbought, sure, but that's often when the *real* moves happen. I'm still in my long from 2175, feeling good about it. Let's see if it plays out!