Gold and the Dollar index Vs Euro

I am showing you what might or could have been a nice 1:2 Gold Trade. But it just miss by merely a few pip and hit what actually an initial target.

2015-03-24_2013

What do I do, I just simply cancel the trade. I only take first touch. I dont rely on 2nd touch as it will now face fresh small demands below it.

Here is Dollar Index Vs Euro below:

DXY_Vs_EUr

No notice that the dollar index got wipe out on its demand. And price has hit the Monthly Demand and supply. What are your first thought on this ? Remember, THe monthly Demand supply is on a 2nd Touch. IT could mean there is nothing there to hold the price. Could it be the same on the USd index ?

A large spike like that, could print fresh demand on a smaller time frame. THe only way to see that is looking into the smaller time frame and see what we can see.

M1_demand_DXY

1 MInute Time frame. Did any of you look this small before ? Perhaps this fresh demand will confirm it. We have to see this over the week.

BY the way, I am compiling a new ebook a ‘ How to Guide’ to identify Demand supply. Since it was demanded by most of my readers. Will keep you posted once I finish this ebook. Hopefully this will help you all trade better and we can collaborate more easily.

 

Have a great week!

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