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.
1-9-07
EURUSD
The EURUSD reached the 1.2970 area of demand yesterday for a long trade at the bottom of the range. This morning it is near the 1.3066 area of supply which should be the top of the range. If you are still long from yesterday, sell the position at 1.3066 and go flat. The EURUSD will trade between 1.3070 and 1.2970 when the US Dollar index reaches the $84.08 area.
Posted by
Forex Trading Based on Supply and Demand
at
11:53 PM
No comments:
Post a Comment