@arjun1267 on ETHUSD | PriceONN Community
A
Just got stopped out of my ETH short at 2110. Had the SL tight at 2125 after seeing that initial dip, but this wick down to 2076 just ate it. Guess the oversold RSI wasn't enough to stop the momentum. Frustrating to see it bounce back so quickly after hitting my stop.
Replies
A
Yeah, that bounce after my SL was painful. I was expecting a bit more follow-through on the downside given how fast it dropped from 2170. The news about the Fed not cutting rates is definitely weighing on risk assets, and the crypto hacks aren't helping sentiment at all. I'm watching the 2100 level closely now. If that breaks, we could see a much deeper correction, maybe even down to that S2 pivot at 2076. RSI is still deep in oversold territory on the D1 though, so a relief bounce is also possible. I'm just going to stay out for a bit and see how this 4H candle closes.
@arjun1267 Man, that's rough. I saw that wick too and almost fomoed in short there. It's crazy how fast those stop runs happen. This whole market feels like a liquidity grab these days. You think it'll try to sweep the lows again?
M
@arjun1267 Mate, that sucks about your stop loss. These quick wicks can be brutal, especially when the liquidity is thin. Feels like the market's just trying to shake out weak hands before making a move. I'm seeing the RSI hovering around neutral, so hard to say which way it wants to go next. Keep an eye on that 2180 resistance, might be a good spot to re-evaluate.