Weekly Supply and Demand Outlook 2014-09-28

AUDCAD - Long

So price hit the demand level identified last week but there was no price action on the lower time frames to confirm an entry. Price has not yet broken the daily demand level so I'm still watching this for now.

A26 image 1 AC Daily

 

EURNZD - Long

After the long trade I took earlier this month price has continued to rally. We still haven't hit daily supply yet so we may see some pullbacks to demand levels to trade from until we reach supply.

A26 image 2 EN Daily

GBPJPY - Long

GJ has also continued to rally strong after my previous trade and has created another demand level. This is an area I'm watching for a possible long trade.

A26 image 3 GJ Daily

NZDUSD - Long

NU has been falling for the past few months now and is now making a fast approach to a daily demand level. This is definitely one to watch this week as price is very close

A26 image 4 NU Daily

USDCHF - Long

Price is still in between supply and demand levels but is strongly heading towards supply. There may opportunity for a long before price reaches supply if we get a pullback to some lower time frame levels.

A26 image 5 USDCHF Daily

USDJPY - Long

UJ has also been rallying strong and has a couple of demand levels to watch but the closest one is below:

A26 image 6 UJ Daily

Happy trading

 

4 Comments

  1. Prits187 on September 28, 2014 at 22:44

    Thank you

  2. Boby on October 22, 2014 at 08:49

    Hi, what is your average R vs r ratio on the trades? Thank you

    • Joe Wright on October 22, 2014 at 21:00

      This varies Boby and depends on the money management strategy employed. There is the standard risk of 2% on each trade and hope for 3:1 etc and there is the the space money management system where you reinvest profit from previous trades. This is not risking all the profits at once as that would be too risky. On one account (the longer term one) I use space outright. On another account, the 2% per trade model, but even then you can still invest profits from the current trade once you are up to improve profit potential. The mechanics of this is too detailed for a comment but I will discuss more in detail. In pip terms it’s often greater than 3:1 but % gain can be much higher. I hope that helps.

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