Profit target reached (70 pips from the line) on the 185.30 short S+R line break.
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GBP/JPY Weekly Analysis (Wk Strt 14/Sep/08)
Posted by Nick 29Hey 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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GBP/JPY closing in on the 186.17 low
Posted by Nick 0Possible short trade coming up for GBP/JPY on break of the 186.17 level. This is a significant low as the last time it was down here was December 2003. Going into new territory can be dangerous, so be very careful if you decide to take this line break.
I haven’t decided if I will enter yet but if it gets closer I will make a new post letting you know whether or not I am entering and the target/stop.
Possible Reversal Trade
Posted by Nick 0Hey Guys,
There is a possible reversal trade forming ontop of the 189.60 S+R line. If this candle closes as a reversal pattern I will possibly take the trade. I am not sure of the entry yet, I will update after the close of the current 4hr candle if I decide to trade it.
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If you like this post leave a comment please.
The Big GBP/JPY Gap (weekly analysis)
Posted by Nick 1Hey Guys,
I was going to do the weekly analysis this week but with this huge gap in G/Y I am not going to be trading until the markets calm down. As far as I am concerned this is not a tradeable market, the gap makes this market unpredictable and dangerous.
Why the gap?
The U.S. nationalization of banks Fannie Mae and Freddie Mac is what caused the massive gap. Read more in the bloomberg articles below:
U.S. Takeover of Fannie, Freddie Offers `Stopgap’ for Mortgages
Yen Drops Most in 3 Months as U.S. Takes Over Fannie, Freddie
Free NicKB Method e-Book Released
Posted by Nick 8Hey Guys,
The free e-Book is finally out complete so if you want to learn more about my trading method click here to download the e-Book.
