GBP/JPY Weekly Forex Analysis (Wk Strt January/30/2011)

Posted by Nick 17

Hey Guys,

I am back trading this week. So I put together this quick weekly analysis video. I am changing things up for 2011, there is more info in the video below. Let me know what you think of the changes by leaving a comment.

buddy

Hey!
what chart are you using ( time wise )
it does not match the charts i have
i have one on the US est – 5pm daily candle change
and one that has the daily change at midnight est.
i live in New York
Anne

I, too, would like to know what time-frame you are using, please.

Anne

NickB

@Anne + @buddy:

Hey guys I am trading the 4 hour chart I mentioned it in the video. The first daily chart candle opens at GMT 12am. In my opinion real Forex charts open at 12am GMT.

buddy

thanks

So for me living in new york, the new daily chart should open at 7pm EST
or GMT-5?
NeilA

Great explanation and the ADR info was very useful, look forward to seeing your take on this later this week. Thanks
kiwipaul

this is cool nick, something had to change i seemed to be making little or no headway! i am pleased you use GMT charts means your analysis and my charts are or the same page. Onwards and upwards for 2011! thanks nick
Michael

Excellent. I also use GFT. Very informative. Thanks
Pete

Really helpful Nick. Good to know the thinking behind the strategy. Had made adjustments on the smaller range but needed to be more drastic. Thanks
noob4ever

Once again, very informative. Nick, do you track your own ADR statistics with a spreadsheet or is there a site on the web that regularly publishes these figures? As always, thank you for this video and for everything.
Doug

I had carried out a similar analysis on ADRs the other day and was surprised to see that over the past 5 months EURUSD has had a higher ADR than GBPJPY !! In fact, last 90 days EURUSD = 141 ADR, GBPJPY 119 ADR. Nicks change of strategy makes a lot of sense !
n4085b

Good stuff Nick. Is there an ADR indicator for the gft platform? I did see in the forum a while back where you talked about using MT4 with an ADR indicator on it to get the numbers. I also noticed you had a thread using MT4 and placing alarms on it as opposed to putting your alarms on GFT’s platform…is that to prevent the broker from easily seeing your stops and targets? If so….GENIUS!
shaun

AWSOME!
Tom

Excellent information, as always. I really appreciate your input, and I am hopeful that we will see it more frequently.
George

Thanks for sharing, Nick good stuff gotten better especially the explanation of the ADR rationale, say are you in Scotland now?
People asking about TF, learn to look at the whole chart, it can be easily discovered by looking at the dates at bottom, as in six candles / day = 4 Hour TF.

NickB

@George:

Not to mention I said it twice in this video, I always say the same thing “You’re looking at a GBP/JPY 4 hour chart”

Not a big deal though, we all miss things.

Art

@ Nick: There’s no repeat bottom in forex so I think we should keep things as realistic as possible & not repeat ourselves.

@Anyone: If you’re method isn’t fluid enough to adapt as the market changes then “” (You can fill in the quotes so I don’t repeat anything)
visulube

Nice, look forward to next week Nick.