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.
2-11-07
GBPUSD
The GBPUSD sold off on Friday morning to a low of 1.9454. It reached the 1.9488 entry and bounced to 1.9518 twice before selling off to the day's low. I will buy the first pullback to 1.9480 with a first target of 1.9520 once the moving average on the 60 minute chart reaches the 1.9500 area. The second target is 1.9570 to reverse to a short.
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Forex Trading Based on Supply and Demand
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8:31 AM
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