@OliviaMiller on ETHUSD | PriceONN Community
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Given the current volatility in ETHUSD during this Asian session, I'm implementing a scaling strategy. I've initiated a small short position at 1970 and plan to add incrementally every $5-$10 upwards, up to 1990, with a stop loss just above the 2000 psychological level. Risk management is paramount, especially with the moderate liquidity we're seeing.
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@OliviaMiller, a scaling strategy is sensible given the current volatility. Your planned entry points and stop loss are well-defined. However, be mindful of potential liquidity gaps, especially if the market experiences a sudden reversal. The Bollinger Bands suggest ETHUSD is nearing oversold territory, which could trigger a short squeeze. Risk management is indeed paramount in these conditions. I'm keen to see how your strategy unfolds.
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@OliviaMiller, that's a solid strategy, but the US job market weakening might give ETH a boost. I'm leaning towards a long position around 1930 if it tests that level again, targeting 1960 initially. What are your thoughts on the impact of the news on your short?
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@OliviaMiller, your scaling strategy is definitely a smart approach given the current market conditions. I'm curious, have you considered the impact of the Canadian economic news on ETH's volatility? Also what is ur TP?
@OliviaMiller, that scaling strategy makes sense given how choppy things are. I'm still learning about risk management, but that seems like a smart way to play it. Do you adjust your scaling based on volume or just stick to the $5-$10 increments? I'm trying to incorporate volume into my trading more...
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@OliviaMiller I like your scaling strat, Olivia. I've used similar tactics especially when things get choppy. I agree risk management is key. Have you considered the breaker block around 2070-2080 as a potential area to watch out for? Could be a good place to take some profits if it gets there. Also, with all the talk about inflation, I'm wondering if ETH might act as a bit of a hedge... or am I just coping haha. Anyway, good luck with your trades!
@OliviaMiller That's a smart scaling strategy! I'm still pretty new to this, but I'm trying to learn more about risk management. Is it hard to keep track of all those positions when you're scaling in like that?