My Trading is based on the laws of supply and demand. Everything about price is reflected in the price. Price moves between areas of supply and demand until the demand is absorbed and price moves lower or supply is absorbed and price moves higher. This blog is dedicated to the relationship of supply and demand and it's effects on price in the forex markets. Once supply and demand is learned, it can be used in any market.
11-23-06
EURUSD
I was planning to take today off for the holiday.
The EURUSD rallied up to the 1.2970 area. The last place that it based was at 1.2943. I would buy a pullback to 1.2943. Use a 20 pip initial stop loss. The first target is 1.2966 and the second target will be 1.2980. Move your stop loss to even after taking the first profit.
More tomorrow.
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Forex Trading Based on Supply and Demand
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3:55 AM
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