GJ Short was taken at break of 4HR CTL (pink dashed line) + rectrace from Supply Zone. Looking for Targets around 50 - 61.8 Frib level or area designated by dashed arrow line which also lines up with Demand Zone.
1st Entry = Daily Supply + 4HR Price Action.
2nd Entry = Daily Supply + 4HR CTL break
Target is first Daily Demand Zone
Possible 3rd Entry if Daily CTL break. This break could be within the 1 Daily Demand Zone so price could rally back up. So this could be a risky trade.
If 3rd Entry is taken then Target ...
1 st Entry = Daily Supply Zone (red box) + 4HR Price Action
2nd Entry = 4HR CTL Break
Targets will be 1st Daily Demand Zone
Possible 3rd Entry = Daily CTL Break
Possible Target will be 2nd Daily Demand Zone
Long 1. This will be a short term bounce set-up to go Long. Area is also within Fib 61.8% - 76.4 % level .
Long 2. This is the mid term bounce set-up to go Long. Measured movement area from Hourly Head & Shoulder.
Trigger-line @ 186.21
Price is currently in a 50% - 61.8% Fibo Zone, but it could run up to a type of Supply Zone that I like to call a
"Sweet Spot". If price does run up into this zone then I am looking for an entry @ 90.70 Trigger Line. If not, then I am waiting for a Trend Line Break to trigger the Short. Also watching indicators ...
my AU Daily Supply and Demand Zones set-ups.
This is more of a long term out look for the AU. Over time some new zones may form or current zones may become invalid but this gives a good idea on where to look for price to react.
This is the Supply and Demand Zones on the Daily Chart.
The S-2-R Zone, is a level where Support has now become Resistance.
Looking for price to react at these zones. Currently price is the S-2-R Zone.