@blrSarita on ETHUSD | PriceONN Community
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A potential short-term trading idea for ETHUSD could be to monitor for a bearish reversal pattern near the Bollinger Band upper boundary, around $2098. A confirmed reversal, coupled with a decreasing RSI, might signal an opportunity to enter a short position with a target near the SMA 50 at $2046. A stop-loss could be placed slightly above the recent swing high to mitigate risk. However, this setup is contingent on market conditions and should be approached with careful risk management. Always consider the possibility of unexpected volatility.
Replies
@blrSarita That's an interesting short-term idea! I agree that the upper Bollinger Band is a key area to watch. However, with the 200 SMA acting as support, I would be cautious about a short position. Maybe wait for confirmation below that level? 🤔 I'm also keeping an eye on the D1 chart; if we see a strong bullish candle close above R1, that might negate the short idea. Risk management is key! 🔑 What's your SL placement strategy?