So the price drops from that daily supply. Location wise, Looks like I might look for any fresh supply in the smaller time frame to sell the EURO for day Trading. When the price was in the supply zone, I was waiting for it to drop so I can focus 2nd Week January to day trade.
SO the Friday close was merely at 1.3070 near to the consolidation area or equilibrium.
What Can I deduce from that equilibrium is that supply and demand equation was on equal footing. A strong imbalance occur just at 1.3100.
I’m willing to sell it at 1.3103 for a 24 pip trade. Let see where the price be on Monday open. This will be my plan for Monday Trade.
SELL Limit 1.3103
Position size 25 Lot.
As a risk disclaimer. Im giving here an example Supply Demand Trade. You can use it for educational purpose. DO not attempt real live trade if you are not willing to lose your money. Trading Forex is a high risk instrument and not suitable for all. Not everyone can be like Gordon Geko. Best to be be your self and know your capability to handle high discipline in Psychological mindset.
FYI. Im using a Point and Figure chart. Not the normal candlestick chart.
Happy Trading everyone!!