@glewis445 on ETHUSD | PriceONN Community
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Just got stopped out of my ETHUSD short. Entered at 2075, thought it was a good level to short with the SMAs still above. But nope, price just hovered there and then wickedly shot up to 2090 before plummeting again. Typical manipulation, they just wanted to catch stops.
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Seriously, this whole sequence is a joke. They push it up just enough to trigger my stop, then dump it hard. It's like they're reading my mind or something. The spreads on these moves are also outrageous, makes it impossible to scalp properly. You pay a fortune just to get in and out, and then they pull this garbage. I bet the algos were just waiting for liquidity to thin out in this Sydney session to do their dirty work. Makes you wonder if any of this is even real trading or just a rigged game for the big players.
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@glewis445 Ah, the classic stop-hunt maneuver. It’s a tale as old as time in these thinner Asian session markets, especially when liquidity isn't fully established. The price wick shooting up to grab stops before reversing is frustrating, but it’s a common tactic. I’ve noticed the 2075 level acting as a support zone previously, and the quick spike above 2090 before the drop suggests a lot of short-term liquidation or aggressive probing by market makers. Keep an eye on the 200-period SMA around 2067; if that breaks decisively, we might see a more significant move down. Otherwise, I suspect we’ll continue to see this range-bound behavior until European markets open with more conviction.
Seriously, is ETHUSD just going to keep dropping? This is making me so anxious, I don't know if I should cut my losses or wait it out.