@azmandiver on ETHUSD | PriceONN Community
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I've been scaling out of my ETHUSD position gradually as it approaches the R1 pivot at 2028.39. Taking partial profits at each resistance level reduces risk. I'll leave a small core position to see if it can break higher, but managing risk is key in these volatile markets. NFA, just my approach.
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Hey @azmandiver, smart move taking profits on the way up. I'm also watching ETHUSD closely and noticed it's hitting that R1 pivot you mentioned. For me, the RSI is screaming overbought on the 1-hour, which makes me a bit hesitant to chase this higher. I've got a tight stop on my own smaller long position, just in case we get a quick reversal. Do you think the current strength is sustainable, or are you expecting more of a consolidation before any further moves? I'm almost tempted to look for a short if it falters at these highs, but that RSI is making me nervous about catching a falling knife.
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Hey @azmandiver, I totally get your strategy of scaling out. That's really smart risk management, especially with how choppy things can get. I was watching that R1 pivot around 2028.39 too, and it's interesting how it’s playing out. For me, the RSI on the 1-hour chart is screaming overbought at 74.6, which makes me a little hesitant to add to any positions right now. I'm more inclined to wait for a slight consolidation or a pullback before considering any new entries, even if the overall trend looks bullish. It feels like we're in that phase where a small move could lead to a bigger correction. But hey, leaving a core position is a solid way to participate if the upside continues!