Hey 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: