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.
5-30-07
GBPUSD
A long trade was entered this morning at 1.9767 in the GBPUSD. The GBPUSD rallied to a high of 1.9790 after entry and the trade was closed at 1.9777 with a 10 pip trailing stop. I will re-enter the long trade with a buy stop at 1.9760, if the GBPUSD trades down to 1.9750 and then reverses to avoid a stop run.
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Forex Trading Based on Supply and Demand
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3:12 AM
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