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.
3-2-07
GBPUSD
The GBPUSD never reached the 1.9686 area for a short trade yesterday. It reached the 1.9545 area for a long trade early this morning and a long trade was taken and closed at 1.9564 which was an area of supply that formed during the 2 day sell off. I will trade the 1.9503 area for a long and take a partial profit at the 1.9540 area. Move the stop loss to entry after the first target.
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Forex Trading Based on Supply and Demand
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2:33 AM
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