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.
1-30-07
EURUSD
Pass on the short trade at 1.2971 since the EURUSD has been basing just below 1.2971 since yesterday afternoon. Once the supply is absorbed, the EURUSD should rally up to the area of supply near 1.3016 and then trade in a range between 1.2968 and 1.3016 for the rest of the day.If the EURUSD declines instead, buy the pullback to 1.2923.
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Forex Trading Based on Supply and Demand
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1:19 AM
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