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.
1-23-07
EURUSD
The pullback trade above 1.2970 in the EURUSD never happened because the EURUSD traded up to 1.2970 and then sold off. It has just broken out above 1.2942. I will buy the first pullback to 1.2942 if this 60 minute candle closes above 1.2942. The first target is 1.2965 and the second target is 1.2982. The currencies are trading in tight ranges, so trail the stop loss close after the first target on all trades.
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Forex Trading Based on Supply and Demand
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12:42 AM
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