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.
2-28-07
USDCHF
The long trade at 1.2219 was stopped out for a 10 pip loss yesterday morning. The USDCHF fell to a low of 1.2142 and has rallied back to 1.2240 this morning. If it can rally past the area of supply at 1.2240, it will have a larger area of supply to absorb starting at 1.2286. I plan on shorting the 1.2286 area and covering at 1.2191. Buy the first pullback to 1.2391 if that happens first.
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Forex Trading Based on Supply and Demand
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3:40 AM
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