Hey Guys,
Here is the weekly analysis for this week, there isn’t much to say except watch the video below:
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Forex GBP/JPY Weekly Wrap-Up (Wk Strt 30/03/08)
Posted by Nick 6Hey Guys,
This wrap-up is a little early but for me the trading week is over since today is NFP Friday. If you do not know what NFP Friday is I explain that in the video below. I also go over the trades for this week.
I saw three trades this week. The first one was the break of the 200.00 line, it was a little risky and not my normal type of trade but it was profitable. I explain it in detail in the video. The second trade was on the 201.80 line mentioned in the weekly analysis, this one could have made you 35-150 pips depending on how you traded it. Personally I made about 95 pips on it. The third trade was based on the next S+R line I had 203.40 (an old line), I did not take the trade but it seems like it would have made 35 pips maybe more depending on how you traded it.
One trade I completely missed until a friend pointed out (after I shot this video) was on the first candle of the week. I do not trade the first candle usually but it would have been a great little scalp. I can say if I would or wouldn’t have taken this one but if I did it would have been worth a quick 30 pips! It was the break of the 197.50 created by the strong reversal last week on 26th. The reversal created a scalp line and the first candle broke it.
So there you have it another profitable week, I say profits ranged from 70-250 pips. It depends on the trades you took and how you traded them, best case is 250 pips profit, worst case is 70 pips. Don’t you just love it when the worst case scenario is still profitable?
Forex GBP/JPY Weekly Analysis (Wk Strt 30/03/08)
Posted by Nick 12Hey guys,
Here is the weekly analysis for this week, I know it’s late but I was busy redesigning the site. GBP/JPY was pretty boring last week; this week looks like it might be much better. I can see two good S+R lines that are close and one that is far:
Long:
201.80 (very strong)
Short:
196.71
192.60 (very strong, same line I mentioned last week)
These are all normal S+R lines, that means I target 70 pips on my first half, move my stop loss to break even and try to target more with the second half. Stop is usually about 80 pips. I know that the stop loss seems large but with a high win ratio (8 out of 10 trades profitable) a high stop is fine.
Remember that scalp lines and candle stick based trades that form during the week so I cannot mention them in the analysis. Keep an eye out for trades like that as they can be worth a lot of pips.
For a more detailed explanation watch the video below. Please note that on the first half of the video I talk about site changes and not analysis:
Forex GBP/JPY Weekly Wrap-Up (Wk Strt 23/03/08)
Posted by Nick 0Hey Guys,
Last week was a pretty boring week for my trading method, we only got one trade, and it was a 50 pip scalp trade. Even though last week was boring the week before was a 200+ pip week. so what does that mean? Well if you add up all the pips made on this blog the average per week comes out to about 100 pips. I don’t know about you but for me 100 pips p/w is amazing. If you can average 100 pips per week on a consistent basis your account will grow very fast. Anyway I explain the trade in the video below.
P.S. You may have noticed all these buttons up above. They link to social bookmarking websites, if you are a member of any of them and you find these posts useful hit the button and bookmark this site. This way other traders can find this site based on your recommendations!
