GBP/JPY Weekly Analysis (Wk Strt 14/Sep/08)

Posted by Nick 29 Comments

Hey Guys,

As promised I am getting this blog back on track, so here is this weeks analysis. There is not much of a chance for a good short trade this week unless some scalp lines form.

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If you like this post leave a comment please.
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Tags: forex, forex analysis, forex profit, forex trading, forex trading education, free forex education, free forex signals, gbp/jpy, scalp line, scalp lines, strt, trade update, weekly analysis

Ayman

Thanks Nick,

Great work and many nice advices in this video.

Good luck for all
Daniel

Hi Nick,

I have been following your blogs with great interest and the simplicity is great. You make trading seem all so interesting I have a quick question for you:

A few weeks ago I came across live trading (with an automated expert advisor). I read a couple of articles and I like the ‘it takes off the emotions from trading’ part. So I have decided to try it on demo account. The results were better than I ever expected! Nick, two quick questions come to my mind.

1. If automated trading really DOES work, why aren’t pro’s (like yourself) using it and
2. If automated trading works and all this money can be made, why are these goof balls selling the Expert Advisor for a crummy 99$ ?

Kind Regards,

Daniel
Carlito

Great work thanks for the analysis!!!
NickB

@Daniel: Automated trading can work for a while, 1 week, 1 month, even 6 months. However since it is a no-thinking-needed form of trading when market conditions change the EA cannot adapt. So for example, some EA’s work amazingly well in a trending market, but use them in a range bound market and you will lose trade after trade. I do not use EA’s because I learned a long time ago, the only way to succeed was for me to use my mind.

As for the losers selling EA’s, if they really worked consistently these guys could turn $1k into $10 Mil in 2 years. Do you really think they would bother selling you their magic get rich quick formula? They would be sitting on a beach, sipping cocktails, and sleeping with beautiful women.

Sorry to burst your bubble but EA’s have been proven time and time again to be worthless. Don’t waste your time…
Mike

I would like to ask Nick if he is going to take the long scalp at 193.70 (the one from the gap).

Take care!
O’Zeeke

Thanks again for your help Nick
NickB

@Mike: No I will not be taking that, as far as I am concerned it is not a scalp level.
Mike

Then why the other one is??
NickB

@Mike: It is completely different…. try looking at it!
SlimTrady

Nice to have you back Nick – thanks for your insight.
Mike

Do you think, that considering the increased volatility on all pairs a sl and tp of 50/70 is still the right thing to choose?
NickB

@Mike: Yes it is still the right target.
russy

thanks boss for being back. please i have being trying to enter the chat room but unable …………………what can i do?
NickB

@russy: click here to verify that your system meets the Minimum System Requirements and Launch the Connection TesterIf you have the
latest java client installed, and you are experiencing problems logging into this room, click here for
support!
Mike

Hi Nick,

What do you think about 192.20 level as a scalp trade?

Have a nice day!
NickB

@Mike: I do not consider it a scalp line
Mike

Please let me know why. I would be very grateful if you could explain it in one phrase. Thanks!
NickB

@Mike: How about you help yourself instead by downloading and reading the free e-Book. Here is a hint, you will find the info on scalp lines in the ‘scalp lines’ section…..
Ricky

Hello Nick. I got redirected to your site thru forexclarity.com and I think your method is fabulous. Just wanted to know what happened to the site forexclarity.com and a certain VanessaFX.

I am from Nigeria and do not have access to paypal, could I purchase your video thru wire transfer or mastercard or even e-gold?

It would be nice if you answered all my questions one after the other

your methods rock
SlimTrady

Hi Nick,

Nice 55 pips from 185.30 – looked like it was struggling to get through initially then – pow !

Sweet
NickB

@Ricky:
I do not talk to Vanessa any more and I pulled out of FC because I was not happy with my business partners wanting to charge for signals. I wanted to open a free site so I pulled out of FC and opened this site.

No it’s only available via PayPal.
Ricky

SO Nick about your DVD. How do I get it then?

you have to think of something for me fast!
NickB

@Ricky:
I can’t really help, its only available via PayPal, there are no other payment options. Ask somebody in another country to buy it for you…
John Umoru

Your comments are very helpful and many thank for that
John Umoru

Nick! Please could you tell me what period chart are you analysing. One hoour, One day or one week?

Thank you.
NickB

@John Umoru:
Here is a hint:

1) hit the play button on the video in the above post.
2) Listen.
3) Wait 8 seconds.

………..
Ricky

One more thing Nick. does the $120 charged on the video include shipment?
NickB

@Ricky:
There is no shipment…. it’s downloadable
http://www.1stmoneyopportunities.com brian

I really liked the way they came off