Reason for the trading strategy:
Price is approaching our first major resistance at 107.98 (horizontal overlap resistance, 100% , 61.8% ). A strong reaction might occur below this level, pushing price down to our major support at 104.65 (horizontal swing low support, 61.8% ). A breakout below our intermediate support at 106.67 (horizontal overlap support, 38.2% ) might provide the acceleration to our take profit level.
(34,5,3) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price.