Weekly Inflections, Fibs, Supply&Demand Lines - Keeping it simple - Selling Entry in the yellow zones, Buying Entry in the Green - SL's on a break of the red zones - for this first Short Opportunity I believe 72.90 offers the best risk/reward short; however I will be Entering Short at 72.00; I think we may see a lot of consolidation in this overall Range during the next several months with a high possibility of seeing an extended range in the upper zone marked (Roughly 71.75-76.50 Range).
The two heavy black lines are our Long Term Supply/Demand Lines.
Good trading all!
The two heavy black lines are our Long Term Supply/Demand Lines.
Good trading all!
Trade active
Comment:
Prices continue to hold in the Supply zone; and I continue to hold my shorts. Note: I am moving my 'Partial' profit taking level from 70.20 to 70.56 and will re-add those short positions at 72.00