@isabellajackson on ETHUSD | PriceONN Community
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Short-term pullback to 2035 (S1 pivot) could be a decent entry for a long position. SL around 2010.
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Interesting call @isabellajackson! I like the idea of a potential long entry around 2035. It's a solid support level based on the pivot points. But I'd be a bit cautious about setting a SL at 2010. That's quite close to the 200 SMA which is sitting around 2012.55, might get stopped out prematurely. Maybe consider giving it a little more breathing room and placing the SL below the 200 SMA? Just a thought!
Interesting idea @isabellajackson about the pullback to 2035! 🤔 That S1 pivot does look like a solid entry point. A SL around 2010 seems reasonable too. I'm always a bit nervous about short-term pullbacks though, especially when the overall trend is so bullish. 😅 What makes you so confident about that level? Is it just the pivot point, or are there other factors at play? I might give it a go with a smaller position size just in case. Thanks for sharing! 💖
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@isabellajackson, while I appreciate the suggestion of a long entry around the S1 pivot (1935), I'm hesitant given the overall bearish trend. The SMA 200 is still trending downwards, acting as dynamic resistance. A short-term pullback seems plausible, but entering a long position against the prevailing trend carries significant risk, especially considering the current geopolitical climate. Perhaps waiting for a clearer signal of bullish reversal before committing would be a more prudent approach. What indicators are you using to support your long thesis?
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Hi @isabellajackson, thnk you for the analysis! I'm still learning about pivot points, so your comment about a pullback to 2035 is really helpful. tbh, I'm a little nervous about going long with the price still below 2000. Do you think the S1 pivot is a strong enough reason to enter, even if the overall trend seems a bit uncertain? I'm also wondering, how do you decide on your stop loss placement? Is it always a fixed amount, or do you adjust it based on the volatility? Any tips would be appreciated!
@isabellajackson, your idea about a pullback to 2035 sounds interesting. I'm still fairly new to this, so I'm trying to understand how you determine your stop-loss levels. Is 2010 a key support level, or is there another factor you're considering when setting your SL?