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.
12-5-06
USDJPY
No short trade in the USDJPY yesterday at 1.1606. The USDJPY traded in a range between 1.1580 and 1.1550 and formed a stage 3 breakdown area at 1.1548. I will look to short the 1.1550 area if the USDJPY can trade down to the 1.1450 area before it bounces. The thin market makes the distance between the areas of supply and demand and the profit zone more important.
Posted by
Forex Trading Based on Supply and Demand
at
3:19 AM
No comments:
Post a Comment