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.
12-21-06
USDJPY
The USDJPY is basing near 1.1850 since it finally absorbed the sellers at 1.1825. If it rallies, it has sellers at 1.1883. Since it took three days to take out the sellers at 1.1825, it may be a while to take out the supply up here at 1.1850. It could slip down to the 1.1820 area and rally back up to the higher range instead. The range is too narrow for me to trade.
Posted by
Forex Trading Based on Supply and Demand
at
4:35 PM
No comments:
Post a Comment