Shorting XRP/USDT on a retest of previous 4H support.
1:64R To target area.
Comment
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Watching the p.a unfold on the 1H.
Bearish bias remains intact as 1H support breaks and price is staying below, some ealthy rejections from that midrange support tunred resistence would be nice to see, furher confirming our target area at 4H key support.
Will adjust Stop as more 4H p.s unfolds today.
Trade active
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It's been a slow grind down! but looks like we might be seeing some volatility.
Ideally I like to see XRP/USDT retest and get rejected from the 0.17453 level and continue it's move down.
Although entry/stops/target are on the 4H i was also using 1H for anaylis as price approched and retested that area.
Its a case of selling at that zone rather than pinpointing a specific candle to enter on.
Defining a sutiable hard stop is key and using the consolidation area just before the sigiancant thrust-down candle provids that, in my humble opinion anyway.
To note: A hard stop is just that, incase price just pumps out of nowhere.
I will look to manage this trade using the 1H 15M tf's to see how P.A plays out, on both sides of my entry zone.
If market structure reclaims the entry zone and it starts finding support for example, I'll reevaluate.
That said, seeing tests into my entry zone is fine, especially if wicks are left behind.