201.80 and 202.60 trades closed!

I closed my first half with +50 pips and now my second with +110 pips.

I also entered the 202.60 scalp line long I mentioned in the weekly analysis. The target for that was again low (30 pips) at 202.90. I am setting low targets because it has been a slow moving week and 1 large candle does not change a whole 3 days of slow movement. I would at the very least like to see this candle close before I resume aiming for normal targets. I am a conservative trader and I am willing to sacrifice pips to lower my risk. When we have a slow moving market I always lower my targets , on scalps I aim for 30 pips on normal trades 50 pips for the first half.

So the last two trades:

Long @ 201.80 I made 80 pips
Long scalp @ 202.60 I made 30 pips

Gross Total for the week 110pips

NOTE: In the previous post I said I would lower my target to 50 pips. That was for my first half only, the second half remains open and the stop loss is moved to break even that is how I handle trades. So the 50 pip target was only for the first half the second half should have remained open.

Tomorrow I will make a page that details all the basic guild lines of my method so I do not have to explain this every time.

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5 thoughts on “201.80 and 202.60 trades closed!
  1. Thanks Nick, I sure learn alot from you! It almost seems that you have a intimate relationship with this currency pair. thanks for your heads up posts and the little comments like willing to sacrifice pips to lower risk…this is why you are successful. Thanks again.

  2. or people could buy your course, which is very cheap and you clearly explain how you determine your s/r levels including scalp lines.

  3. Excellent trading approach you got Nick… Im Also trading through these Support & Resistance lines and they are working great for me… Also im new to your site…seem’s great … Thank’s for all your Wounderfull Effort’s…
    PipHacker!!!

  4. I missed your webinar cos my server broke down just when i was about to enter the webroom.All I ever wanted was to learn how to calculate support and resistant line the way you do.I went to the videos in your website to see if I could watch how support and resistant lines are done but they were cracking and inaudible.
    I know you are a very busy brother,just wandering if you have any e-book or simple analysis you could send me on how to calculate support and resistant lines as well the psychological level as you call it.
    I know it’s too much trouble but please help!

  5. he’ll be sending out the recorded webinar for those that missed it, including me. also, nick has a course you can purchase (very cheap and very good). lastly, go to other blog postings and watch the videos where he tells us his s/r lines. they are not calculated