XVSbtc has a pretty good run and has been in a nice mark down phase. We had a good daily rejection on support telling me the buyers are strong.
I'm watching for 1 of 2 things to take an entry:
1) A decidedly bullish candle on this daily support area or on the pivot point in the 4hr timeframe (maybe if i notice it). A candle like a hammer or a bullish engulfing (small candle followed by a big green candle) is my jam for this. Additionally, if i see a range of candles on the 1hr with wicks predominantly down, that gives me confidence in support.
2) A break of the trendline creating a higher high with an entry on the test of daily. At any rate, that would make it a range trade.
Targets would be the first daily resistance marked and the subsequent targets. I'm not planning on being greedy here. If i get my entry i'll be taking the majority of my exits through the targets.
I'm watching for 1 of 2 things to take an entry:
1) A decidedly bullish candle on this daily support area or on the pivot point in the 4hr timeframe (maybe if i notice it). A candle like a hammer or a bullish engulfing (small candle followed by a big green candle) is my jam for this. Additionally, if i see a range of candles on the 1hr with wicks predominantly down, that gives me confidence in support.
2) A break of the trendline creating a higher high with an entry on the test of daily. At any rate, that would make it a range trade.
Targets would be the first daily resistance marked and the subsequent targets. I'm not planning on being greedy here. If i get my entry i'll be taking the majority of my exits through the targets.