GBP/JPY Weekly Analysis (Wk Strt Nov/09/08)
Hey Guys,
What a great week we had last week. We had three trades and all three were winners making a total of about 150 pips. This week is looking great too. We have four scalp line trades and a possible S+R line trade.
Watch the video below to see this weeks analysis:
S+R Line Targets
Target: 70 pips
Stop: 70 pips
Scalp Line Targets
Target: 50 pips
Stop: 50 pips
Do not take any of these trades unless you have downloaded and read the free e-Book explaining my method.
Watch the video below to see this weeks analysis:
download (right click > save target/link as)
Related Posts:
- GBP/JPY Weekly Analysis 19:56 23 September 2008
- GBP/JPY Weekly Analysis (Wk Strt Nov/03/08) 21:07 02 November 2008
- GBP/JPY Weekly Analysis (Wk Strt Jan/04/09) 02:46 05 January 2009
- GBP/JPY Weekly Analysis (Wk Strt Jan/11/09) 10:36 12 January 2009
Archived Comments (11)
Forex Blog: Art of the Chart
Sorry i still new at this but let me know if im wrong about this. So if it breaks a long scalp line then you would want to go long or if it breaks the short scalp line then you would want to go short, is that right? Or am i missing something here. Thanks for your time and help.
Mr. Nick B.
Thank you soo much for your analysis, but can you speak more slow because maybe not all your readers speak english, for example I must to see 3 or 4 times the video and understand your explanation, I only speak spanish.
Thank you again and Congratulations.
hey nick fantastic strategy!!!! Ive been paper trading your scalp lines to watch the results and tonight your 150.30 got hit it went short to 149.07 so it was well withing your 50-70 pips. ill be watching for some longs coming up :)
Thanks Nick,
But talk a bit slower please ;)
dear nic,
How to use the scalp line
Like I have drawn one scalp line now at 140.19 for GBPJPY.
The price has gone up so when it goes down and crosses the line shall I go short or shall I go long.
regards
Hi Guys,
Didn't see answers to your questions so I figured I'd try to help out even though I'm a Noob as well.
Ineedmoney - Yes, you are correct sir! If it breaks a Long Scalp Line (resistance) than you want to assume the price will go higher and go long. The reverse is true for the break of a Short Scalp Line (support). From what I read in Nick's e-book you want to target 50 pips on the break of a scalp line.
Lobotrader - ?Solamente 3 o 4 tiempos?
Yo hablo ingles y necesito mirar 6 tiempos porque la video ir muy rapidamente.
Cetlusni - The best thing to do is to print out Nick's e-book and read it when you get a chance. It will give you guidance as to when to enter your trade on the break of the scalp line and what to target. I've read it a couple times now on the train when I go home and each time I pick up something that I missed before. Your answer is in the e-book.
Hope this helps everone out.
RBCOE
Hi Nick,
Can I use the method for 1 hour chart, will it be still valid
Thank you
Hi Nick,
Nice analysis, Thanks!
Hi Nick,Nice analysis.
Thanks for good work.
Hi Nick,Thanks for good work.
Hi Nick,
I have been following your method for awhile now and all is good.
All these people who are asking you to speak slower mustn't be able to understand Australian! Keep up the great analysis.
Cheers from Newcastle.