We're seeing mean reversion but if we fail here and break demand this is what I'm looking for:
Two potential trades:
1) If we break current demand (108.322) and get a round re-test around this level I am scalping shorts to 108.000.
(To be clear, I will only take this if we break demand and get a retest around 108.339 ish - see chart)
**Stop above supply (was demand) zone (108.458)**
2) Looking at longs around 108.00 demand area. Will be ladder entry as we may see price accumulate in this zone. Small position to start, pyramid more as we break higher.
**Stops Tight : Below demand area (107.750)**
** Stops Wider: Below 0.38 fib level (107.550) **
Two potential trades:
1) If we break current demand (108.322) and get a round re-test around this level I am scalping shorts to 108.000.
(To be clear, I will only take this if we break demand and get a retest around 108.339 ish - see chart)
**Stop above supply (was demand) zone (108.458)**
2) Looking at longs around 108.00 demand area. Will be ladder entry as we may see price accumulate in this zone. Small position to start, pyramid more as we break higher.
**Stops Tight : Below demand area (107.750)**
** Stops Wider: Below 0.38 fib level (107.550) **