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.
3-18-07
GBPUSD
There was one trade in the GBPUSD on Friday. I bought the pullback to 1.9420 and sold at 1.9430 when the GBPUSD retraced from 1.9435. The conditions for entry for the short trade at 1.9500 prevented my taking the short trade since the GBPUSD only traded as high as 1.9500 before retracing instead of 1.9510. I will buy the first pullback to 1.9379 with a first target of 1.9420. Move your stop to entry after the first target is reached.
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Forex Trading Based on Supply and Demand
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9:32 AM
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