Forex Trading Based on Supply and Demand: 2007-06-03

Wednesday, June 6, 2007

EURUSD 6-6-07

6-6-07

EURUSD

The EURUSD long trade from 1.3430 on Sunday is still open. The stop loss has been moved to 1.3490. If the EURUSD closes above 1.3526, I will move the stop up to 1.3519.

6-6-07

GBPUSD

There were no trades entered in the GBPUSD in the last two days. The GBPUSD never traded down to 1.9800 for a long trade, and since it based near 1.9835 on Sunday, no short trade was entered at 1.9850. I will trade the 1.9900 to 2.023 range for today.

USDCHF 6-6-07

6-6-07

USDCHF

There were no trades entered in the USDCHF for the last two days. The USDCHF opened below the 1.2250 area of demand and has not rallied up to the entry point. I will adjust the range lower for today to enter long at 1.2150 and short 1.2250.

USDJPY 6-6-07

6-6-07

USDJPY

There was a long trade entered in the USDJPY at 1.2180 that was stopped out with a 10 pip stop loss on Monday. I will trade the 1.2084 to 1.2170 range for today.

Sunday, June 3, 2007

GBPUSD 6-3-07

6-3-07

GBPUSD

The last trade in the GBPUSD was a long trade at 1.9760 that was stopped out with a 10 pip stop loss. The GBPUSD traded in a range between 1.9733 and 1.9768 for 2 days before breaking out to the 1.9820 highs. I will trade the 1.9800 to 1.9850 range for Sunday and Monday.

EURUSD 6-3-07

6-3-07

EURUSD

The last trade in the EURUSD was suppose to be a pullback long entry at 1.3380.
The low on Friday was 1.3392. If the EURUSD rallies above and closes above 1.3450, I will buy a pullback to 1.3450 for my next EURUSD long trade. I will short 1.3480 if the EURUSD opens above 1.3450 when my platform opens for trading on Sunday, and switch to a long at 1.3450. If the EURUSD opens near 1.3430, I will trade long there instead.

USDJPY 6-3-07

6-3-07

USDJPY

There have been no trades in the USDJPY for the last 3 days.
I will buy a pullback to 1.2180 for my next USDJPY long trade.
I will trade short at 1.2260 with a sell stop once the USDJPY above 1.2272
and reverses lower.

USDCHF 6-3-07

6-3-07

USDCHF

The last long trade in the USDCHF at 1.2242 had a partial exit at 1.2276 and was closed at 1.2247. I will buy the first pullback to 1.2256 and short the first pullback to 1.2377.

Who Am I ?

Welcome, Let's start the new blog with a few pieces of information about what I am trying to accomplish. I have a paid email alert service which I send to various forex FCM's for there use in their trading. This service uses the analysis of supply and demand in the currency markets to find areas where high odds, low risk trades exist. This is a totally different approach from any other type of trading out there. My goal is to make you a constantly profitable trader, not a forex millionaire by next week. My style of trading works in any market and can be applied to stocks, bonds, futures as well because I focus on supply and demand which is the study of price itself. All will be explained as time goes on if you wish to follow along. In the paid version of my email alert service, I include pictures of charts to visualize the areas of supply and demand that I intend to trade at in the future. I have included a picture of the 4 stages of the market chart and a couple of the 60 and 240 minute EURUSD charts above as examples of how I explain where the areas a trader needs to be aware of are. Most everyone finds this information useful and makes similar notations on their charts. This blog will only have my trade recommendations for the 4 pairs that I send to the FCM's for you to follow. If you are interested in the paid version for the individual trader and the other services such as live chat, webcam conferences, updated email alerts for trailing stop losses, as well as trading tips to improve your trading results, you can send an email to smisic1@gmail.com for more information. Feel free to ask any questions at any time on any markets you are trading for areas of supply and demand in those markets.

Forex Trading Based on Supply and Demand