@sophieclarke47 on ETHUSD | PriceONN Community
Seeing a clear bearish engulfing pattern forming on the H4 chart for ETHUSD. Definitely confirms the weakness we're seeing today. Might be a good time to tighten up SLs if I was already in a short.
Replies
Hi @sophieclarke47, that's a great point about the bearish engulfing on H4 for ETHUSD. I'm watching it too, it definitely looks weak. I was thinking about opening a short, but the current price is hovering just above that 2056 support level. I'm a bit hesitant to jump in before we see if it breaks that convincingly. What's your usual strategy for confirming a break like that? Do you wait for a candle to close below it, or are you looking for something else to confirm it's broken? Just curious how you handle these moments.
M
Hi @sophieclarke47, that bearish engulfing pattern on H4 for ETHUSD sounds concerning. I'm still pretty new to reading charts like that, but if you're seeing it, it probably means trouble.