Long

I usually trade with two time frames. I tend to avoid to buy the dip. I rather buy the strength using momentum indicators:

I just opened a long position using three time frames based on the reasons below:
Weekly:
The stochastic reset at 50 level and is moving to the upside - Bullish momentum building up.

Daily:
Both MACD and RSI lines are about to cross and move to the upside in the bull zone.  Stochastic lines have already crossed and are moving to the upside.   In terms of price action, it dropped to the previous month low, bounced up and now moving above the previous month mid level.  

4H:
The price is currently sitting just below the sell block and below the previous week mid level.    I will open a long position if the current 4H candle closes above the previous month's mid level and MACD lines enter the bull zone with green histogram.   Having said that, It might be safer to wait for a candle to close above $26 and stochastic lines will enter 50 level.

I don't trade with leverage.    I usually close the position when momentum indicators present a clear negative divergence in 4H or daily chart.