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
GBPUSD
There was no long trade entered in the GBPUSD since Sunday. There was a short trade entered this morning at 1.9710. The low since entry was 1.9695. A breakout support area has formed at 1.9695, so this trade will be closed at 1.9702 since the area of support is so close. I will buy the first pullback to 1.9695 for my next GBPUSD trade with a first target of 1.9732 and a second target of 1.9749 to exit and go flat
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Forex Trading Based on Supply and Demand
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4:00 AM
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