Weekly Forex Supply and Demand Outlook 2014-09-14
EURJPY - Short
Price has been rallying strong on EJ and is nearing is supply. It stopped short of the demand level I wrote about previously so we'll see what happens with this supply level. It would be a second touch too so that's also important to consider as ideally we want to trade the first touch. I still do trade second touches to SD levels if all other criteria are met.
GBPAUD - Short
I didn't get an entry from the demand I talked about but price is now nearing supply so we could have a short opportunity.
GBPUSD - Long
Price hit demand and started rallying last week. There is a gap to fill and beyond that price has clear red candles so this is definitely one to watch.
NZDUSD - Long
Price is just a few pips away from demand and price has dropped nicely so far. We may see long opportunities this week.
USDCHF - Long
The USDCHF is still on my radar so I'll be watching for longs from the demand.
Happy trading
Thank you Joe
You’re very welcome.
It Took Me Years To Learn That In Forex Simple Is Best.
You are very right. The sooner this fact is realized the better.
Thank you joe.. Really appreciate your update and help traders..
Great supply and demand and really understand about this strategy.. But your experience is really helpfull
Thank you
You’re welcome Haji.
hi there..
i like your strategy..
why your TP is far away.. there are many supply or demand zones before your TP..
really appreciate your answer.. 🙂 thanks
Hi Haji
Where you see the daily supply and demand levels, they are not my entry and TP levels. I don’t place limit orders at them. They are areas where I anticipate a reversal. If I see a reversal pattern from those SD levels on the H1 then I will look to enter, profit there is suitable profit potential of course. My exits are based on PA at opposing levels on the H1 usually. It would be great if price did reach the opposing daily level but it doesn’t always do that so I wait for signs on the H1 to tell me how far price is likely to go.
I hope that makes it clearer. If you have any more questions, please feel free to ask.