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kostatev

Applying simple laws of supply & demand with support/resistance

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
kostatev  
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD Supply and Demand Support and Resistance
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audusd supplyanddemand supportandresistance
After AUD/USD price broke out of its 13 day range/consolidation phase resistance level, the price reached a MAJOR SUPPLY ZONE. AUD/USD price neared a resistance level that hasn't been broken for 1 year. This indicates a level of MAJOR SUPPLY and at a price level were there is VERY LITTLE DEMAND. For this reason, I shorted the AUD/USD.
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