Forex education: Weekly analysis for week starting 2nd March 2008

Hey guys,

Had a few issues with my mic and had to buy a new temporary cheap one until the one I ordered comes in. You may notice some distortion with this mic as the quality is not that great.

As for the trades we have two lines this week, the 207.00 is still good for a long and the newly formed 203.44 for a short. Check out the video for the more detailed analysis.

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9 thoughts on “Forex education: Weekly analysis for week starting 2nd March 2008
  1. MiForexTrader,

    Price has found support there twice recently. The market seems to be in ranging mode right now, however this scalp line would be in an ideal place – just somewhat below that 1y11m low.

    Would be nice to no how you would interpret that data, if at all? Any opinions are welcome.

    Thank you in front for your time,


    P.S. Adding this question to forum for educational purposes with picture of current situation.

  2. Congratulations to all.

    Seems I’m the only one that made profit target higher due to market situation and not made profit from this trade =)

    It would be interesting to hear from Nick about this trade and how much he would have gone for and why =)

    All the best to everybody,


  3. Got in the 207.00 break, closed out the first half at 70 pips within half an hour.

    Great line Nick, and thank you for continuing the analysis each week.


  4. I really appreciate all the great training here Nick, got in at 207.06, out at 207.70, ran just like clockwork.
    Thanks again

  5. Hi Nick!

    I made 51 pips on the first break of 207 (with help from Nviuf). I have to be careful not to “jump the light”, but I stayed in the trade when it retraced about 60 pips, and was able to cap a nice handful of pips. I got lucky this time, that it actually broke 207 just after my entry ;)

    Your analysis is really helping me understand (the way you think) when S/R lines are usable (=future trading points).

    best regards

    PS : gratz to everyone locking in pips on this break ;)