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if it breaches the high or low of that mother candle its very significant and lieky will be come with quite a bit of volume and rise in volatility; everyone is waiting for this . Has to be closing price , has to be. Lets say Intraday pierces it to the downside trggers stops, volatility rises , actually may go way below then lets say buying comes in and closes back into the mother candle -- that's bullish, its a hammer pattern . if that was to happen on the weekly (the higher time frame)-- very bullish. Patience and buy. Can play it on the daily tho to, but again given its basing/downtrending the higher time frame is more significant . I have a bias to certain set-ups that i look for . Now if it breaks to the updie on the daily? again, pick up in volume, likely a long green candle on the lower time frames. My style for breakouts is I wait for a re-test of the break out area and enter on a bullish candle, the only probem with this is it may not come back to re-test , if it doesnt, i dont care tho..there's always trades available , i dont chase a trade
that MAY be forming on the weekly, (not ideal tho, kinda hoping we get a second pierce of the mother candle NEXT week) the candle DOES NOT close until Sat 8 pm, for a
longer term 'ideal' trade................ front running is not a good idea.
. Talking 'ideal ' entry here. Investing? over 50% retrace, its on sale if you're a believer in ICONIC BTC
what does that candle look like? it happened on the 4 hour time frame (one of my fav time frames, then buy on the lower time frame - the hourly)
https://ca.investing.com/indices/investing.com-btc-usd-chart
click 'candle' icon, then click '4h' (4 hour time frame), then click widescreen;
look at the candle 6 from the right (depending on when reading this post it may be more)--its distinctive- GREEN body, LONG tail.
The bottom of the box was pierced-triggered stops, doom and gloomers came out, some longs landed at Emergency wards.......then buyers came back. Where from? The Casino in the Sky is game for all. London , Eng....Melbourne , AUS....Singapore....small village in Africa . Bullish candle short term. has played out BEAUTIFULLY. IF you were to play just this type of candle on an UPTRENDING asset in retracement? probability is significantly in your favor long term...like stealing. No real 'work' , no employees, ....just click a button and have A STOP
the candles - the graphic depiction of investor sentiment. AGAIN, the WEEKLY candle is NOT done, this could very well be a up move before heads back down