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.
12-13-06
GBPUSD
The was a long trade entry at 1.9601 yesterday in the GBPUSD. There were several chances to buy at that price. The first target of 1.9645 and the second target of 1.9670 were reached. Move the stop loss on the last contract to 1.9654 in case this 1.9695 area turns into a stage 3 top. A pullback should find support at 1.9670. If the GBPUSD rallies past 1.9705 instead, move the stop loss to 1.9694.
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Forex Trading Based on Supply and Demand
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1:33 AM
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