S+R and Scalp line updates!
Posted on 02 July 2008 by admin
Hey guys,
I am a little late with this update but here goes:
The 209.31 S+R line has been moved to 209.37, I know it is only 6 pips but 6 pips can be significant. Looking at the candles in that area over the past few weeks the 209.37 is just a much better fit. S+R lines do migrate very slightly with time so it is completely normal to see this.
We also have a very obvious scalp line that has formed at the 212.30 level. I have added that line and removed the 213.00 scalp line mentioned in the weekly analysis video. The 212.30 is a much stronger scalp because of the way it moved up, hit, and reversed.
There are the updates I hope you guys caught the 210.56!
July 2nd, 2008 at 1:35 pm
Hello Nick, Just looking at the GBP/JPY chart at the 210.56 trade.Could you tell us newbies where you actually entered the short trade?
Which candle did you decide to enter on?
Cheers,
David.
July 2nd, 2008 at 2:00 pm
David » I entered on the first candle that broke through the line.
30.06.08 5:00 candle on the 4hr chart.
You should check out the forum there is a lot of info about how I trade there.
July 2nd, 2008 at 10:16 pm
Thanks for the reply. Yes I took that trade.The 210.56 line was broken again the next day did you also take that trade?
July 7th, 2008 at 3:31 am
Hi Nick, Can I be aided on drawing daily pivot points (S/R) on the EUR/USD chart?
Thanks for your great work
John