This supply zone formed when prices fell sharply away from the 215.65p area, suggesting that there could be a potential resell at this point.
With no new demand, a short sell to the previous demand, mid-way between the opposing supply and demand zones, gives you around 5.5:1 return.
Because supply is in control, the trade might go even further to the 182.00p area where I would look to buy.
EP: ~215.65
SL: ~218.65
TP: ~198.95/182.00 (>5:1)
With no new demand, a short sell to the previous demand, mid-way between the opposing supply and demand zones, gives you around 5.5:1 return.
Because supply is in control, the trade might go even further to the 182.00p area where I would look to buy.
EP: ~215.65
SL: ~218.65
TP: ~198.95/182.00 (>5:1)