Hey Guys,
Holidays are over and the weekly analysis is back. I hope you all had an great holiday break!
I also hope you guys did not follow my silly decion not to trade in December because it was an awesome month to trade. I never really trade December as most years it is a boring month. However, this year there was a lot of pips up for grabs so I hope you got some of them. Anyway, let’s get on to the important stuff the weekly analysis.
Do not take any of these trades unless you have downloaded and read the NEW 2010 edition free e-Book explaining my method.
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{ 15 comments… read them below or add one }
good video nick i will be watching with interest, Judd
Nick,
I was upset that I wasnt 1 of the lucky 10 to win a free program, nonetheless, I hope these lucky 10 realize the great fortune they received as your material is second to none, I trade pretty good and all your freebies has improved my trading in the past year, you are absolutely the best, have a great 2010 and by the way this latest video analysis was awesome as usual.
howard
Nick,
Is there a special reason why you don’t trade scalp lines on the EURJPY and GBPUSD?
You stated that for GBPJPY you were trading scalps and reversals. So, are you saying the price is more likely to reverse on these scalp lines?
Thanks for the info Nick. You mentioned a few weeks ago about an upcoming e-book on a scalping method you have developed, any update as to when it will be available?
Twitter: forex4noobs
January 10, 2010 at 5:16 pm
@Charley:
No, I just mean I am actively trading reversal formations and scalp lines. While reversal formations certainly can and do for on scalp lines from time to time I am not suggesting any connection by what I said on the video.
Twitter: forex4noobs
January 10, 2010 at 5:17 pm
@JL Trader:
No special reason it is jsut the start of the year so I want to let the market settle before I start trading scalp lines on the other pairs.
Twitter: forex4noobs
January 10, 2010 at 5:17 pm
@PipRanger:
I will make a post on that very soon.
Nick. The reason why bad numbers out of the US in the last 2 months or so have been beneficial to the dollar is down to risk appetite and risk aversion.
As the world moves out of recession the commodity currencies (AUD CAD NZD) benefit as the demand for raw materials grows.
Bad numbers out of America (which naturally leads the way as far as economic indicators are concerned) throws this recovery into doubt and there is a “flight to safety” – safety being gold, the USD and the Japanese Yen and away from the commodity currencies.
Obviously if traders are buying dollars (which they have been for the last 5 weeks) they are selling the GBP and the EUR.
Most of the dollar strength in the last 4 weeks has been down to abnormally good non-farm payroll numbers for November. Last Friday the non-farm payroll numbers were unexpectedly bad and the dollar has been selling off since and crucially the flight to safety didn’t occur.
Whether this means the markets have returned to “normal” (i.e. bad US economic data = bad for the dollar) is as yet unclear. I think you may well be right in your assumption because solid economic numbers out of Australia and Canada would appear to be attracting buyers of these currencies irrespective of economic data out of the US.
Wednesday/Thursday (depending on your time zone) is key when the Aussie Employment change and Unemployment rate come out. Better than expected numbers here could see the AUD/USD pushing .9500 and AUD/JPY pushing .90.
Personally I’m long A/J A/U N/J and N/U with tight stops as I expect the numbers to be good.
On the flip side, bad numbers could throw the whole economic picture open again and we could see very turbulent Forex markets for the next quarter.
Time will tell.
Cheers.
We really appreciate big time for your weekly analysis.Confidence to take positions is exactly what newbies like me crave for.You make us feel like trading machines already..
Hi Nick,
good to see your weekly analysis again. Looking at my charts and my lines I’m very happy to see the confirmation in your video. (I still don’t really trust myself…)
Thanks for your work.
Thanks buddy!!! I plan on buying your new Price Action Analysis using profits I make using your strategy & knowledge I’ve gained from you. That you’ll be paying for it in an direct way or you could say it was free. Thanks again! Keep it up!
Hey Nick so what gives???????????????
Twitter: forex4noobs
January 13, 2010 at 11:14 am
@Chris W:
Sorry haven’t been paying much attention to comments. Just email me man cotnact form on the site will do that way I can email you back.
Xmas rally – there’s always 1 pair moving somewhere, just happened to be the USD moving up this time round.