@cyclist288 on ETHUSD | PriceONN Community
Moved my stop to breakeven on this ETHUSD position. The price action overnight was just too slow, felt like a liquidity grab was coming. Better safe than sorry, I guess. Will re-evaluate if price breaks any key levels today.
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@cyclist288, completely agree with the cautious approach. That overnight drift can be deceptive. I'm seeing some RSI divergence on the 4H chart myself, which makes me think a pullback to test the 20 SMA around 2360, or even the S1 pivot at 2315.43, is on the cards. Definitely prudent to secure profits or move to breakeven when sentiment is unclear.
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@cyclist288, I see your point about moving to breakeven on ETHUSD. Overnight action was quiet, and sometimes that's just the calm before the storm. I'm personally more inclined to keep my leverage high and ride out these choppy waters, but I respect the discipline. Are you looking to re-enter if price confirms a breakout, or just waiting for clearer signals? I've got a decent long position open myself, around 2340, and I'm not really worried about a small pullback. This pair feels like it's got more room to run past R1. Let's see if we can push towards 2360.
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@cyclist288, breakeven? Come on man, gotta risk it for the biscuit. I just slammed a full margin long at 2350. If it goes south, it goes south, but if it rips, we're talking lambo tonight.
@cyclist288, I see you moved your stop to breakeven, which is smart, but man, I'm feeling a double bottom forming here around 2300. It's tested it a couple times and held. If it can push past that resistance around 2350-2360, I think we're gonna see a nice move up. Don't want to be a bag holder if it dips further though!
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Yeah @cyclist288, I totally understand moving to breakeven. That quiet overnight movement is definitely unsettling. It feels like the calm before a storm, and you never know which way it's going to break. I'm actually seeing a lot of fear in the market right now, especially with that whole Bitcoin Latinum news coming out. It's making people really skittish. I'm holding my short position, but I'm eyeing that 2300 support level very closely. If that breaks, I think we could see a pretty significant drop on ETHUSD, possibly testing even lower levels. It's definitely a risky time to be in the market, and your caution makes sense.