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.
4-10-07
EURUSD
There was a long trade entered in the EURUSD at the 1.3339 support area yesterday afternoon which reversed the EURUSD sell off and sent the EURUSD back to the 1.3430 area this morning. Ahead of this trade, the EURUSD also bounced when it reached the 1.3356 area of demand earlier in the day on Monday. If you are long, move the stop loss to 1.3399 to lock in a decent profit on this trade.
Posted by
Forex Trading Based on Supply and Demand
at
3:59 AM
No comments:
Post a Comment