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.
12-10-06
GBPUSD
There was no trade Friday in the GBPUSD. It looks like the 1.9521 area is acting as a trading range bottom for now. On the 240 minute chart, the next area of breakout support is at 1.9485. The first area of supply to worry about is 1.9561. I will wait for the range to be established on Sunday and Monday before I trade the GBPUSD.
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Forex Trading Based on Supply and Demand
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4:07 AM
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