I am looking for 59.57-59.88 Demand and will be entering long advising SL below 58.98 (58.98 I'll show on a separate chart showing a higher demand structure forming during the long 2015 distribution range). First target at the CLK8 January Supply/Demand Exchange and second target near the 63.83 Daily Inflection. I will be looking to sell likely near the top of the range between 64.6 and 64.9.
Long Entry: 59.88
SL: Below 58.98
TP1: 62.70 - I am advising taking all or half profits at 62.70 and looking to re-enter/re-add long positions on a retrace to 61.50
TP2: 63.80 - Potential 62.70 Long entry if 63.80 is reached
As always, comments and questions are welcome. Good trading all!
This continuous chart view shows the higher structure 'support' level that I believe we will see coming into play for a long entry:
Looking left at 2014