@dpatel517 on ETHUSD | PriceONN Community

Yeah, @thomas1985, I agree it looks textbook. The aggressive sweep of the lows below S1 and now hovering near S2 is definitely textbook inducement for retail shorts. However, my short is based on the rejection of the 50 SMA and the overall bearish structure on the D1 chart, not just the intraday action. The RSI is still deeply oversold, which gives me pause, but the momentum downwards feels strong. If this 1967 support fails, I'm looking at the Bollinger band at 1945 as the next logical target before any significant bounce. Just keeping the SL tight to manage risk. This Fed news about potential hikes is also adding downward pressure across risk assets.

@dpatel517 Yeah, I'm seeing that too. It's kinda scary how fast it dropped. I just hope my entry wasn't too late if it does bounce.