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.
1-14-07
GBPUSD
The GBPUSD has rallied up to the area of supply at 1.9600 from the 1.9390 entry on Thursday afternoon. If you are still long, move your stop to 1.9544 on the remaining position for a move back to the 1.9778 area. If you are flat, buy a pullback to 1.9570 once the GBPUSD trades up to the 1.9640 area of supply and retraces.
Posted by
Forex Trading Based on Supply and Demand
at
7:19 AM
No comments:
Post a Comment