@EmilyB91 on ETHUSD | PriceONN Community
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Well, my ETHUSD trade didn't go as planned 🤦♀️. I thought I saw a clear buy signal around 2130 and went all in, but then it just tanked overnight. Now I'm staring at a pretty hefty loss and honestly don't know whether to cut my losses or hold on and hope for a miracle. This market is brutal sometimes. 😭
Replies
Hi Emily, it's tough seeing a trade go against you like that, especially when you felt confident in the entry. The ETHUSD chart has been showing significant overbought signals on the hourly and 4-hour timeframes, with the RSI pushing above 80. Typically, this suggests a potential pullback or at least a period of consolidation is due. Trying to catch a falling knife can be dangerous. Perhaps consider scaling out of your position gradually if it continues to drop, or at least moving your stop-loss to break-even if possible to protect capital. Sometimes, taking a smaller loss is better than holding on for a miracle that may not come. I find that a well-defined exit strategy *before* entering a trade is crucial, even for long-term plays.