The 1900 ETH midline order has already taken profit at 2362. ETH has surged too aggressively, touching 2380 this morning. I'm satisfied with a 450% gain. Theoretically, there's still room above, with an extreme target of 2600. 2500 is the midpoint of the previous trading range, and 2380 is the bottom of the previous trading range. Being conservative, I'm locking in profits first. 2600 is the midline of the weekly Bollinger Band. Previously when it hit the midline, it crashed sharply, so it's best to reduce positions before reaching the midline. With my limited ability, I can't capture the full move. The risk-reward ratio isn't favorable right now, so I'm taking profits for now. I'll plan to add long positions on pullbacks.
The 1900 ETH midline order has already taken profit at 2362. ETH has surged too aggressively, touching 2380 this morning. I'm satisfied with a 450% gain. Theoretically, there's still room above, with an extreme target of 2600. 2500 is the midpoint of the previous trading range, and 2380 is the bottom of the previous trading range. Being conservative, I'm locking in profits first. 2600 is the midline of the weekly Bollinger Band. Previously when it hit the midline, it crashed sharply, so it's best to reduce positions before reaching the midline. With my limited ability, I can't capture the full move. The risk-reward ratio isn't favorable right now, so I'm taking profits for now. I'll plan to add long positions on pullbacks.