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.
3-28-07
GBPUSD
There was a long trade entered in the GBPUSD yesterday on the pullback to 1.9626. I have taken a partial profit and I have a stop loss at 1.9636 on the rest of the position that is close to being hit at 2:00 AM. If it is hit and the long trade is closed, I will go long again at 1.9600 with a buy stop and a first target of 1.9650. I will trail the stop loss on this trade by 15 pips to protect more of the profit.
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Forex Trading Based on Supply and Demand
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1:05 AM
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