Forex GBP/JPY Weekly Wrap-Up (Wk Strt 30/03/08)

Hey 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?

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6 thoughts on “Forex GBP/JPY Weekly Wrap-Up (Wk Strt 30/03/08)
  1. Thanks again Nick, i made 70 so far and out for the week. Looking forward to your next analysis. Have a great weekend. I really appreciate all the work you do to help.

  2. Nick,

    Thanks for the update man. Like I said, that 177 pip profit was so good until I did nothing but watch the market for the rest of the week without trading!!

    I was just too scared to give it back to the market. So, instead of trading nervously, I just decided to sit out and I just can’t get that smirk off my face man. I am still shocked by that trade. I don’t drink liquor or smoke cigarettes, but damn, I am going to have to roll me up a big ol blunt bro(laughing)….(JUST KIDDING).

    Have a great weekend,